On July 20, SpaceX declined 3.05% in regular trading, trading at $120.39/share with turnover of $20.64 billion, as the stock continued to drift further below its $135 IPO price.
The decline reflects sustained multi-faceted pressure on the stock. According to S3 Partners data, approximately 185 million SpaceX shares are currently sold short, representing roughly 29% of the free float, with short sellers sitting on paper profits of nearly $40 billion. The stock remains under pressure following the aborted 13th Starship flight test, during which multiple Raptor engines failed to ignite, triggering an automatic launch abort. While SpaceX announced it would reattempt the launch on Thursday after replacing two engines and modifying hardware and software systems, market confidence has yet to recover.
The stock has now fallen over 46% from its post-listing high of $225.64, with institutional and retail investors alike facing significant unrealized losses. Wall Street's consensus target price median of $225 has drawn widespread skepticism amid the persistent weakness since the company's $86 billion IPO in June.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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