SpaceX shares fell sharply on Monday, marking a third straight day of losses and extending a pullback that followed the company’s record-breaking IPO earlier this month.
The stock dropped nearly 17% to $154.60, bringing its three-day decline to 27%. Just days earlier, SpaceX had surged after its market debut, briefly reaching a valuation close to $3 trillion and overtaking Amazon and Microsoft to become one of the world’s most valuable companies.
Despite the recent sell-off, SpaceX shares remain roughly 30% above their IPO price. The company’s June 12 public debut raised $85.7 billion and initially fueled strong demand from retail investors eager to gain exposure to Musk’s space, satellite, and AI ventures.
The decline comes as SpaceX announced plans to raise additional funds through a bond offering. According to a regulatory filing, the proceeds will be used primarily to repay existing debt tied to a bridge loan. The company also disclosed that it held approximately $100.8 billion in cash and cash equivalents as of June 19.
Some analysts have questioned SpaceX’s valuation, which ranged between roughly $1.75 trillion and $1.77 trillion around the IPO. The company reported a $4.9 billion loss on $18.7 billion in revenue during 2025. Nevertheless, SpaceX continues to seek funding for Elon Musk’s long-term goals, including expanding its space operations and pursuing plans to eventually send humans to Mars.