SpaceX Stock Plunges 16.4% on June 22, Erases Most IPO Gains

According to Yahoo Finance, SpaceX stock plunged 16.4% on Monday, June 22, marking the largest single-day decline since its IPO and the third consecutive trading day of losses. The company has nearly erased its post-IPO rally, with shares trading just 14% above the IPO price of $135, compared to its first-day opening price of $150.

SpaceX confirmed in a filing that it will conduct its first-ever bond offering, reportedly valued at approximately $20 billion, with proceeds to repay bridge financing from its February acquisition of xAI. Market participants also cited concerns over upcoming lockup expirations, with up to 44% of insider shares potentially entering the market between August and September.