SpaceX Sheds $620 Billion in Two Days After Post-IPO Peak

BeInCrypto··Read original
4▲1 ▼2Impact / 5
Summary · why it matters

SpaceX shares have dropped 18% from their post-IPO peak, erasing roughly $620 billion in market value over two days and pulling the company's valuation from nearly $3 trillion down to $2.37 trillion. The stock closed Thursday at $184.98, down 3.6% on the day, with the five-day volume-weighted average price at $181.71, leaving the average open-market buyer near breakeven. The slide was triggered by SpaceX's June 16 announcement that it would acquire Anysphere, the company behind AI coding tool Cursor, for $60 billion in an all-stock deal that carries roughly 3.4% dilution of SpaceX's $1.77 trillion IPO valuation. Morningstar trimmed its fair value estimate to $62 from $63, noting the stock was already significantly overvalued, while Oppenheimer analyst Timothy Horan raised his price target to $250, arguing the deal gives SpaceX access to AI talent and an established developer user base. Retail investors poured $369.8 million into SPCX over its first three sessions, more than four times the amount flowing into Nvidia, but net retail buying cooled to $9.1 million by Thursday afternoon, and a lockup expiry in late July could double the tradeable float, adding further supply-side pressure.

Impact on assets 4

Financials± Mixed · 2 stocks
Morningstar Inc
MORN
▼ NegativeCapitalrelevance

Morningstar trimmed its fair value estimate for SpaceX to $62 from $63, reflecting a negative analyst action.

Oppenheimer Holdings Inc
OPY
▲ PositiveCapitalrelevance

Oppenheimer analyst Timothy Horan raised his price target to $250, a positive analyst rating.

Space Economy▼ · 1 stocks
Semiconductors▲ · 1 stocks

Off-coverage companies 1

CursorPrivate▲ Positive
Capitalrelevance

Cursor (Anysphere) is being acquired by SpaceX for $60 billion, a positive M&A event for the company.

© 2026 MarketIVNews