SpaceX shares slipped after a sharp post-IPO rally, as investors booked profits and reassessed its stretched valuation. Despite remaining well above its IPO price, concerns over losses and delayed profitability are rising. Analysts still remain bullish on long-term prospects, but say the company must now prove earnings delivery
SpaceX’s blockbuster stock market debut has started to show signs of cooling after an initial surge. Following the largest IPO in history, shares of Elon Musk’s aerospace and AI company had jumped over 60% within a few sessions, briefly pushing it among the world’s most valuable firms.
However, the stock has now fallen for a second consecutive day, retreating from its June 16 peak. Even so, it still trades about 37% above its IPO price of $135, reflecting strong early investor enthusiasm.
Market observers attribute the decline primarily to profit-taking rather than weakening fundamentals. Analysts note that the rapid rally, combined with limited float, naturally triggered a pause.
While some experts are calling it an “exhaustion phase” after a near-vertical climb, others called it a typical post-IPO correction.
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