SpaceX Stock Drops to Record Lows to Start Week
SpaceX Stock Drops to Record Lows to Start Week
David Marino-NachisonMon, July 27, 2026 at 8:33 PM UTC
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SpaceX shares have come back to Earth since their hot IPO last month.Credit: Photo by Miguel J. Rodriguez Carrillo / AFP via Getty ImagesKey Takeaways -
Shares of SpaceX fell to closing and intraday lows Monday, starting the week on a downbeat note.
Investors are waiting for the company’s first quarterly financial results since its mid-June IPO. Those results are due next week.
SpaceX started the week in retreat, touching record lows.
Shares of SpaceX (SPCX) finished down 1.4% at $113.50, on a broadly quiet day for markets. Their finish marked the shares’ lowest close yet, and Monday’s intraday low below $109 was itself a record. That left the company’s market capitalization around $1.5 trillion, just a bit above Elon Musk’s other big public company, Tesla (TSLA). Tesla’s stock, which plunged late last week after the company delivered disappointing earnings, fell 1.2% today as the Magnificent 7 group of big tech stocks, as measured by the Roundhill Magnificent 7 ETF (MAGS), ticked lower.
The Musk-led rocket, connectivity and artificial intelligence company’s latest slip extended a dramatic downward run for a company that sold shares to the public in mid-June, saw its stock quickly jump above $225, and then watched as the shares fell to below their IPO price over the course of about a month. Investors now have the company’s first quarterly earnings report—and the likelihood of extensive commentary from Musk—to look forward to next week, but for now their enthusiasm seems to have cooled.
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Wall Street analysts remain generally bullish, with Visible Alpha calculating an average price target over $293 that is more than double today’s close. Morgan Stanley, which calculates the shares’ value at $300, in a Monday note said that “at less than $120/share, we believe investors are paying a reasonable multiple for the core Space + Connectivity business while receiving limited-to no value for the company’s AI opportunity, despite multiple monetization paths” to 2028 AI revenues around $100 billion.
“We see the current valuation as an attractive entry point,” they wrote.
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Source: “AOL Money”
