SpaceX shares threaten to drop below their $150 debut price amid a $60 billion acquisition and $20 billion debt offering.
SpaceX has lost nearly $750 billion in market capitalization since its peak at $225 per share, with prices now testing the $150 first-day open. The decline follows three simultaneous pressures: a $60 billion all-stock acquisition of Anysphere, a $20 billion debt raise, and upcoming lockup expirations.
Shares debuted at $135, opened at $150, and surged past $200 before retreating. The broader tech selloff, including declines of 9% for Micron and 10% for Sandisk, has intensified selling in high-growth stocks like SpaceX.
The stock’s drop reflects fading IPO euphoria and valuation concerns as investors reassess exposure to space and AI-linked equities.