SpaceX's IPO Value Craters by Nearly $1 Trillion

SpaceX's highly-anticipated initial public offering (IPO) has seen its market value drop by nearly $1 trillion in just five weeks, leaving investors with significant losses. The company listed on Nasdaq under the ticker SPCX at $135 per share, raising approximately $75 billion and valuing itself between $1.75 and $1.8 trillion.

However, shares have fallen to around $124 as of mid-July, wiping out nearly a trillion dollars in market capitalization and leaving the company valued at roughly $1.63 trillion. Investors who bought the peak on June 16 are sitting on losses exceeding 25%.

The rapid decline has raised questions about the valuation of the company, which reported revenues of under $19 billion in 2025. At its peak, SpaceX was trading at roughly 95 times revenue.

Several cryptocurrency platforms attempted to capitalize on the hype by offering tokenized versions of SPCX shares, but this proved poorly thought out as numerous campaigns promising tokenized SpaceX shares failed to actually secure the underlying equity. This resulted in a wave of refunds totaling approximately $557 million across various platforms.