Space Exploration Technologies Corp. (SPCX) Stock Just Lost $1 Trillion in a Month. Is the Selloff a Buying Opportunity or a Warning?

2 months ago 22

Fatima Gulzar

Thu, July 23, 2026 astatine 6:44 AM CDT 4 min read

Space Exploration Technologies Corp. (NASDAQ:SPCX) banal fell for a seventh consecutive league connected Monday, dropping 3.3% to $119.85. That's beneath its $135 IPO terms from June. The banal has fallen astir 27% successful July alone. SpaceX's marketplace headdress dropped to $1.52 trillion, pushing it beneath Meta Platforms and retired of the apical 7 U.S. companies by value. The banal has present mislaid $1.16 trillion since its June 16 highest of $2.68 trillion.

Two things drove the slide. On July 16, the company's Starship rocket aborted astatine the past 2nd earlier liftoff for its 13th trial flight, erasing astir $100 cardinal successful marketplace worth that day. SpaceX modified Starship's propulsion strategy afterward and pushed the retry to July 23.

At the aforesaid time, abbreviated sellers piled in. Bearish bets grew from astir 40 cardinal shares 3 weeks agone to astir 185 cardinal shares now, astir 29% of SpaceX's tradable interval and an estimated $25 cardinal successful bets, according to S3 Partners. Ortex Technologies says abbreviated sellers are already sitting connected $8.7 cardinal successful insubstantial nett since the IPO. As Ortex co-founder Peter Hillerberg enactment it, "Rather than instrumentality profits, the bears kept adding the full mode down."

This brings up a cardinal question: Is this a just repricing of an overhyped debut, oregon is this a buying accidental into a institution immoderate analysts inactive worth astatine much than $2 trillion?

Space Exploration Technologies Corp. (SPCX) Stock Just Lost $1 Trillion successful a Month. Is the Selloff a Buying Opportunity oregon a Warning?

BULL CASE

William Blair's expert Louie DiPalma launched sum with a bullish standing and argues the marketplace undervalues Space Exploration Technologies Corp. (NASDAQ:SPCX)'s motorboat concern connected its own, assigning it astir $300 billion. It is simply a fraction of what helium sees arsenic the company's afloat potential. The Falcon 9 rocket has launched much than 650 times against 3 launches for Blue Origin's New Glenn. So, expert DiPalma estimates Space Exploration Technologies Corp. (NASDAQ:SPCX) controls implicit 90% of the rocket motorboat market, putting it astir a decennary up of its closest competitors.

Starlink has moved good past outer net too. It has taken stock from in-flight connectivity and outer communications providers, and SpaceX has signed information halfway leases with Anthropic and Google. DiPalma argues the banal shouldn't determination overmuch connected immoderate azygous Starship trial result. In his view, a bigger hazard would beryllium Google oregon Anthropic pulling backmost connected those information halfway leases fixed their size. He is besides not excessively disquieted astir the institution relying excessively overmuch connected Elon Musk, noting that SpaceX has a beardown squad of experienced leaders down him, including COO Gwynne Shotwell and CFO Brett Johnson.

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