SpaceX shares declined below their initial public offering closing price by 22 June 2026, erasing approximately $400 billion in market value for investors who purchased after the first trading day, according to Marketwatch TOP. Bloomberg Markets reported that by the third consecutive day of losses, the cumulative decline had reached approximately $600 billion in market value, with the stock approaching its IPO low of $149.34 amid broader technology sector weakness.
The share price decline coincided with SpaceX's announcement of its first investment-grade bond issuance, as reported by Bloomberg Markets. The company subsequently launched a $25 billion bond offering across five tranches, with spreads set relatively wide over Treasuries to attract investors. Major banks including Bank of America, Citigroup, Goldman Sachs, JPMorgan, and Morgan Stanley arranged investor calls for bridge financing, with formal offerings spanning 5–30 year maturities.
SpaceX equity, listed on Nasdaq, is the instrument directly affected by the post-IPO price decline. The bond tranches being issued represent the company's first public debt, structured as investment-grade across multiple maturities.
Additionally, CNBC TOP reported that lockup periods for multiple SpaceX insiders are expiring on a staggered schedule, with those insiders gaining permission to sell shares. Bloomberg Intelligence noted that rating agencies backed the large bond offering based on expectations of future growth and positive cash flow, despite current financial metrics not yet meeting the implied rating threshold.
Sources: Marketwatch TOP, Bloomberg Markets, Oilprice, Cnbc TOP