SpaceX Falls 18% After IPO as OpenAI and Anthropic Near Debuts
Updated
Updated · Business Insider · Jul 23
SpaceX Falls 18% After IPO as OpenAI and Anthropic Near Debuts
3 articles · Updated · Business Insider · Jul 23
Summary
Six weeks after its record IPO, SpaceX shares are down about 18% from the $135 offering price, reinforcing warnings that newly public tech companies often lag after listing.
Since 2019, Apollo economist Torsten Sløk says post-IPO performance has been hurt by peak valuations, higher interest rates and a market benchmark dominated by a few mega-cap winners.
The pattern was especially pronounced in the 2020-21 boom, when zero rates and stimulus-fueled retail demand pushed richly valued companies to market before they were ready.
OpenAI and Anthropic are now approaching public debuts into a similar setup, with investor enthusiasm high but valuations elevated and rates still structurally above 2010s levels.
With most AI projects failing to deliver returns, are investors simply betting on hype with the next big IPO?
Is the SEC's plan to ease IPO rules a boon for innovation or a trap for everyday investors?
SpaceX’s $1 Trillion IPO Shock: How a Turbulent Debut Reshaped AI Valuations, Market Risks, and the Next Wave of Mega-IPOs
Overview
SpaceX made a highly anticipated public debut on June 12, 2026, with shares trading under the SPCX ticker on Nasdaq. Elon Musk rang the opening bell from Starbase, while celebrations took place in New York. The IPO sparked a frenzy of investor interest, quickly driving the stock to record highs. This surge was fueled by a unique market structure, as less than 5% of shares were available for trading, creating scarcity and boosting demand. However, the excitement was short-lived, as concerns over high valuations and upcoming share lockup expirations soon led to a sharp decline in SpaceX’s stock price.