SpaceX shares tumble nearly 30% since debut, investors voice frustration
SpaceX stock has fallen from above $225 to about $110 since its public debut, prompting investors to express disappointment and concern over valuation and test-flight delays.
SpaceX's shares have dropped sharply since the company began trading in early June, falling from a peak of more than $225 to roughly $110, a decline of nearly 30 percent from the opening price of $150. The slide follows a series of test-flight setbacks and growing doubts about the company's valuation.
Investors on online forums expressed frustration, with one Reddit user reporting a loss of about $455,000 Canadian dollars on thousands of shares. Another user noted a personal loss of over $20,000 in a single month, citing a 30 percent short interest and a 40 percent drop in the stock's value for the month.
The latest dip occurred after SpaceX announced a one-day postponement of the thirteenth Starship test flight, a notice that was released minutes after U.S. markets closed. The stock fell an additional 3 percent the following day.
Analysts said the outcome of the upcoming test will be critical: a successful flight could help restore confidence, while another failure might deepen concerns about the company's path toward the $2 trillion valuation Musk has referenced.