SpaceX lost more than $600 billion [1] in market value over three trading sessions ending Tuesday, June 23, 2026.
The sudden decline follows the company's high-profile initial public offering and highlights the volatility of the rocket and satellite company as it transitions to the public equity markets. Investors are now weighing the company's long-term growth against immediate financial maneuvers.
The selloff wiped off more than $600 billion [1] from the market value of the Elon Musk-led company. According to Bloomberg Television, SpaceX shares are looking to bounce back on Tuesday after the three-day slide [1]. The company's shares have fallen from their post-IPO peak [3].
Several factors contributed to the downturn. Investor concerns included a cautious AI trade and the company's announcement of its first bond sale [1, 2, 3]. The impact of the loss was significant enough that the newly public company shed close to half of bitcoin's entire market value in three sessions [2].
Despite the steep drop, the stock remains above its initial offering price. The IPO price was set at $135 per share [1]. Following the selloff, the share price remained roughly 10% above that IPO price [1].
Market analysts said that the volatility occurred on the Nasdaq, where the company has been trading since its IPO [1, 3]. While the SpaceX dive was massive in dollar terms, the broader cryptocurrency market remained relatively stable, with bitcoin's market cap falling less than 1% [2].
“SpaceX lost more than $600 billion in market value over three trading sessions”
The rapid erosion of $600 billion in market capitalization suggests a correction in investor expectations following the IPO hype. By announcing a bond sale shortly after going public, SpaceX may have signaled a need for immediate liquidity that spooked investors, while the 'cautious AI trade' indicates that the company's valuation is increasingly tied to broader tech sector sentiment rather than just aerospace milestones.
