SpaceX Shares Crash to New Lows Near IPO Price on Heavy Selling

SpaceX shares extended their selloff on July 13, falling as much as 4.75% to $138.40 and hitting an intraday low of $140.12—the weakest level since the June 12 IPO at $135. The decline follows a 6.8% drop on its Nasdaq-100 debut to $149.47 and multiple sessions below the key $150 level. Despite ten major banks issuing bullish ratings on July 7 and index-fund buying from roughly $800 billion in assets, the stock has now plunged 35-38% from its post-IPO peak of $225.64 amid heavy spending on Starship and xAI, with 2025 revenue at $18.7 billion but net losses widening to $4.9 billion.