Adam Spatacco, The Motley Fool
Mon, July 20, 2026 astatine 3:54 AM CDT 5 min read
Space Exploration Technologies (NASDAQ: SPCX) completed its landmark archetypal nationalist offering (IPO) connected June 12. Investor enthusiasm propelled SpaceX banal sharply higher than the IPO price, with shares opening connected the Nasdaq astir $150 connected the archetypal time of trading and closing adjacent $161. The offering valued SpaceX astatine much than $2 trillion -- making it the largest IPO successful history.
Momentum continued concisely arsenic the banal reached an intraday highest of $225.64 conscionable days aft the IPO. However, shares person since fixed backmost each of those gains and past some.
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As of the adjacent of trading connected Friday, SpaceX banal was trading astatine conscionable $123.99. This represents a diminution of 45% from its post-listing high, and a driblet of 17% from its first-day opening price. Is present a bully clip to bargain the dip successful SpaceX stock, oregon should retail investors who person avoided the volatility truthful acold support sitting connected their hands?
What has driven SpaceX's volatility?
The archetypal surge successful SpaceX banal reflected powerful, narrative-driven momentum. Investors bought into the company's multipronged vision: expanding the Starlink outer constellation for planetary broadband, advancing reusable rocket technology, and exploring ambitious artificial quality (AI) applications specified arsenic orbital information centers. Elon Musk's idiosyncratic marque surely added to the buzz astir the stock, drafting some retail and organization buyers into what felt similar a once-in-a-generation opportunity.
Over the past fewer weeks, the enthusiasm astir SpaceX has met countervailing forces. Questions are rising astir the company's valuation comparative to its reasonably humble gross basal and its still-negative net profile. Skeptics besides enactment the capital-intensive quality of SpaceX's assorted businesses and the agelong timelines that would beryllium required to crook its ambitious plans into businesses susceptible of delivering accordant revenues and profits.
Analyzing different notable IPOs successful caller past
History offers utile discourse done different high-profile exertion IPOs. Snowflake went nationalist successful September 2020 astatine astir $250 per share. One twelvemonth later, the banal had climbed by much than 30% amid beardown request for unreality information platforms. Yet the banal aboriginal experienced important volatility and meaningful drawdowns arsenic maturation expectations for the institution moderated.

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