SpaceX Stock Meltdown Costs Alphabet $28 Billion in a Month

Alphabet's investment in SpaceX has taken a major hit after the space company's stock plummeted following its June IPO. The Google parent company's portfolio value jumped from $4.02 billion to $99.1 billion, thanks largely to the addition of SpaceX as a marketable security. However, since the IPO, shares have been on a downward trend, wiping out a significant portion of Alphabet's paper gain.

According to 13F filings, Alphabet's stake in SpaceX is now worth around $66 billion, down from $99.1 billion just weeks ago. This represents a roughly 30% haircut for the company. Despite this decline, SpaceX shares are up 10% on Friday, clawing back some of their recent losses.

Most of Alphabet's SpaceX shares are locked up due to post-IPO sale restrictions, with around $80 billion facing short-term restrictions and another $14.1 billion locked through the third quarter of 2027. This means that Alphabet's next 13F filing will likely look very different depending on where SpaceX shares land when the next quarter closes.