SpaceX stock rose sharply post-IPO but retreated 16% on June 22 amid high losses and AI-driven expansion plans.
SpaceX (SPCX) stock climbed 37% in its first week of trading before dropping 16% on June 22. A $25,000 investment at the IPO would now be worth over $28,600, though fundamentals remain weak.
The company reported a 15% year-over-year sales increase in Q1 2026 but continues to post net losses. SpaceX plans to acquire AI firm Cursor for $60 billion, citing its revenue growth from $100 million in 2025 to $4 billion this month.
Investors remain bullish on long-term potential, particularly in AI and space-based data centers, despite near-term financial challenges.