SpaceX (SPCX) IPO Price 'Collapses'...900 Million Share Sell-Off Threatens $100 Defense

▲ SpaceX (SPCX), stock price decline/AI-generated image

SpaceX (SPCX) has fallen below its initial public offering (IPO) price. The August earnings announcement and the release of up to 911.5 million shares from lock-up have increased the risk of further decline.

According to FX Leaders, a financial market specialized media outlet, on July 28 (local time), SpaceX's stock price closed down 1.36% at $113.5 on Monday. It then fell further by 2.26% to $110.89 in after-hours trading. Having closed down in 13 out of the last 16 trading days, it approached its all-time low of $108.66.

SpaceX went public in June at $135 per share, raising approximately $85.7 billion. Immediately after listing, the stock price surged to $225.64, but the upward trend did not last long. The market capitalization has decreased by over $1.2 trillion since its peak.

The first quarterly earnings report is scheduled for August 4 after market close. First-quarter revenue increased by approximately 15% year-over-year to $4.7 billion, but the company's valuation stands at approximately $1.5 trillion. The market is focusing on operating profit margin, free cash flow, Starship development costs, and satellite deployment costs rather than just revenue.

The burden of AI investment has also emerged as a key variable. SpaceX invested approximately $7.7 billion in AI-related capital expenditures in the first quarter. The annualized figure exceeds $30 billion, more than double the $12.7 billion in 2025. Two days after the earnings announcement, on August 6, up to 911.5 million shares, or 20% of locked-up stock, will become eligible for sale.

Technical trends also remained in a bearish zone. $111.26 and $108.66 were identified as short-term support levels, and if $100 is breached, $90 was suggested as the next downside target. To confirm a rebound, the stock must first recover $117 and then overcome the resistance zone between $123 and $124. The Relative Strength Index (RSI) was 34.39, approaching the oversold territory, but selling pressure remained dominant below key moving averages.

[Article Summary]

-SpaceX's stock price fell below its IPO price of $135, approaching its all-time low of $108.66.

-First-quarter AI capital expenditure was $7.7 billion, with an annualized figure exceeding $30 billion.

-On August 6, up to 911.5 million shares are expected to be released for sale.

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