SpaceX stock sinks 5%, losing momentum after a multiday rally

2026-06-17 | original

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Why This Matters

The recent fluctuations in SpaceX's stock highlight the volatility and high investor expectations surrounding the company's ambitious growth plans. While its rapid rise has positioned it among the largest U.S. companies, recent losses and market corrections underscore the risks involved in tech and space industry investments. This development is significant for both investors and industry watchers monitoring the future trajectory of space-focused technology companies.

Key Takeaways

SpaceX's stock surged 40% post-IPO, briefly making it the fourth-largest U.S. company by valuation.
The company's market cap exceeded Amazon and Microsoft temporarily, reflecting high investor optimism.
Despite rapid growth, SpaceX posted significant losses, indicating the volatility and risks in the space industry.

SpaceX shares sank on Wednesday, putting a damper on momentum after a red-hot first few days of trading.

The Elon Musk-led company has seen its stock surge around 40% since its blockbuster IPO on Friday, which offered shares at a set $135.

The first few days of gains for SpaceX pushed its market cap above Amazon on Tuesday, and it briefly surpassed Microsoft to become the fourth-largest company by valuation in the U.S.

SpaceX had a market cap of $2.66 trillion at close on Tuesday.

Investors are betting big on the promise of Musk's ability to drive long-term returns.

Musk posted on X on Sunday that the company "might be able to reach approximately" $1 trillion revenue in 2030.

SpaceX posted a $4.9 billion net loss in 2025, and it lost $4.28 billion in the first quarter of this year.

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