SpaceX stock recovered 3.9% on July 28 after hitting a low of $107.01, cutting its market cap decline to 50% from its June peak.
SpaceX shares rebounded 3.9% to $117.90 on July 28 after plunging to $107.01 earlier in the session, reducing its market capitalization to $1.55 trillion. The stock had peaked at $225.64 on June 16, valuing the company at nearly $3 trillion before a steep decline erased roughly half its value.
The company’s market cap briefly dipped to $1.4 trillion at the session low, marking a 52% drop from its record high. The sharp recovery suggests a potential near-term bottom, though shares remain well below their June peak.
Elon Musk’s wealth has taken a significant hit, with estimates showing a paper loss of over $650 billion since mid-June. SpaceX’s valuation remains critical to Musk’s broader ambitions in AI, space exploration, and interplanetary colonization.