SpaceX shares extended their decline on Thursday, closing at $184.98, a 3.6% drop for the session and roughly 18% below the post‑IPO peak, erasing about $620 billion from the market value.
Share‑Price Slide and Valuation Shift
The stock surged after the public debut, briefly flirting with a $3 trillion valuation before intensified selling pressure pushed the market cap down to approximately $2.37 trillion. An intraday high above $225 on Tuesday gave way to a swift reversal, leaving the five‑day volume‑weighted average price at $181.71, according to CNBC.
This price contraction has moved SpaceX near the seventh‑largest public company ranking, trailing closely behind Taiwan Semiconductor Manufacturing Company. The dip also places the firm in a position that many investors monitor alongside crypto and blockchain assets, given overlapping market sentiment.
Retail Investor Activity and Strategic Acquisition
Retail demand fueled the early rally, with Vanda Research reporting $369.8 million of SpaceX (SPCX) shares bought during the first three trading sessions. Momentum faded later in the week, and net retail purchases shrank to $9.1 million by mid‑afternoon on June 18.
On June 16, SpaceX announced a $60 billion agreement to acquire Anysphere, the creator of the AI coding platform Cursor. The move is expected to broaden the company’s technology portfolio, a factor that may attract investors who also track blockchain developments and crypto market trends.