After years of waiting, investors finally gained the opportunity to buy stock in Space Exploration Technologies (SPCX -1.07%) after the company held its initial public offering (IPO) in June. Shares of SpaceX rocketed higher after their debut on public markets, closing 19.6% higher on their second day of trading after closing at $160.95 on the day of the IPO.
But how have those who bought shares at the IPO fared since SpaceX stock launched on June 12? Are they heading to the stars or falling back to Earth?
Image source: Getty Images.
Enthusiasm fueled early gains for SpaceX stock
With much fanfare, SpaceX stock opened on its first day of trading at $150 and soared to $176.52, eventually closing at $160.95.
Space Exploration Technologies
Today’s Change
(-1.07%) $-1.52
Current Price
$140.71
Key Data Points
Market Cap
Day’s Range
$138.17 – $143.10
52wk Range
$104.83 – $225.64
Volume
254.1K
Avg Vol
112.9M
The upward momentum in SpaceX stock continued. Shares closed at $192.50 and then $201.80 on their second and third market sessions, respectively.
Bears quickly emerged, though.
In late June, investors balked upon learning that the company planned to offer a $25 billion bond, a considerable capital raise shortly after a successful IPO. Plus, several analysts offered uninspiring takes on SpaceX stock, countering the market’s initial exuberance. On June 22, for example, KeyBanc initiated coverage of SpaceX stock with a neutral rating, and the next day, Susquehanna initiated coverage with a neutral rating and a $170 price target.
Investors also took exception to the company’s second-quarter 2026 financial results presentation on Aug. 4, when SpaceX reported massive investments worth $15.8 billion in artificial intelligence (AI) infrastructure during the quarter.
SpaceX stock has failed to gain altitude
For those who hitched a ride with a SpaceX investment at the time of the company’s IPO, the returns have hardly been out of this world. Those who bought $500 of SpaceX stock at the time of its IPO on June 12, 2026, have seen their positions sink to $479 as of the close of trading on Aug. 31, 2026.
Is there potential for SpaceX stock to reverse its downward trajectory?
While anticipation for the SpaceX IPO had been sky-high, shares have failed to attract the bulls. But looking at SpaceX’s poor performance and concluding that the space stock isn’t worthy of consideration would be grossly unwise. IPO stocks — whether those of the Elon Musk variety or otherwise — tend to exhibit significant volatility shortly after they debut on public markets — a dynamic that leads many investors to eschew them completely.
Fortunately for those eager to gain exposure to SpaceX yet uninterested in the potential volatility of a stock purchase, there are several exchange-traded funds (ETFs) that hold SpaceX stock.