HAWTHORNE, Calif. — SpaceX shares drifted back toward their $135 IPO price this week, closing Tuesday at $136.08, just $1 above the level buyers paid in last month's record-setting listing. For long-term believers in Elon Musk's space and AI empire, the retreat looks less like a red flag and more like a rare chance to buy a generational company near its floor.
The stock, which trades on the Nasdaq as SPCX, has pulled back roughly a third from its post-listing peak near $226 as early momentum cooled. Yet the business underneath the ticker is arguably stronger than ever, anchored by the same relentless launch cadence behind SpaceX's record run of booster recoveries.
Why The Bulls Are Unshaken
SpaceX went public in the biggest first-time share sale ever, and the post-IPO cooldown has done little to change the long-term thesis. The company is the world's dominant launch provider, the largest satellite operator with more than 10,800 Starlink spacecraft in orbit, and, following its $1.25 trillion merger with xAI, a major AI-infrastructure player leasing compute from its Colossus supercomputers. Several Wall Street shops have already staked out bullish ground, a spread captured in the wide range of published SpaceX price targets.
