Space Exploration Technologies Corp. (NASDAQ:SPCX), the rocket and satellite company behind Falcon 9 launches and the Starlink broadband network, traded at 151.43 dollars on July 9, up 2.17% on the day but still far below its post IPO peak.
| Price | 151.43 USD |
|---|---|
| Day change | +3.22 (+2.17%) |
| 52-week range | 21.62 – 225.64 |
| Market cap | $1.95T |
| Dividend yield | 0.32% |
| RSI (14) | 61.96 |
A Wild Ride Since the June Debut
Shares opened to the public at 150 dollars on June 12, and demand was so intense that some buyers struggled to get their orders filled. The stock rocketed to an intraday high of 225.64 dollars just four days later, on June 16. That level now marks the top of its 52 week range, with the bottom sitting at 21.62 dollars, a gap that hints at how much has changed in a matter of weeks rather than years.
Since that mid June peak, the stock has given back most of its gains. It briefly dipped under 150 dollars before settling into the current price near 151, only a few dollars above where it first started trading. Some of that pullback reflects a natural cooling after IPO euphoria fades, as early buyers who wanted in have already bought, leaving less fresh money to push the price higher.
The Bond Sale That Rattled Investors
A bigger jolt came on June 22, when SpaceX announced plans for a 25 billion dollar bond offering. Coming so soon after going public, the debt sale revived questions about how much capital the company needs to fund its rocket and satellite ambitions. Shares fell more than 12% that day, closing at 154.60 dollars, as investors weighed the cost of financing growth against the promise of future returns.
Valuation, Momentum and Yield at SpaceX
With a market capitalization of 1.95 trillion dollars, SpaceX now ranks among the largest publicly traded companies anywhere, a remarkable feat for a stock that has traded for less than a month. The company pays a dividend yield of 0.32%, modest for a business still pouring capital into rockets, satellites and infrastructure. Its RSI reading of 61.96 suggests buying interest has picked back up without yet reaching overbought territory.
The bull case rests on scarcity and scale: few public companies offer direct exposure to reusable rockets and a satellite broadband network with global reach, and inclusion in the Nasdaq 100 on July 7 forces index funds and ETFs to buy shares regardless of price, which could offer near term support. The bear case centers on the same capital intensity that spooked investors after the bond announcement. Launch vehicles, satellite constellations and ground infrastructure all demand continuous, heavy spending, and a 25 billion dollar debt raise so early in its public life raises questions about how the company balances ambition against balance sheet discipline.
What August Earnings Might Reveal
SpaceX is expected to post its first quarterly report as a public company in August. Given how recently it listed, the numbers themselves may offer few surprises, but given how sharply the stock has swung already, from 150 dollars to 225.64 dollars and back down near 151.43 dollars, a muted market reaction seems unlikely whatever the report shows.