SpaceX stock loses more altitude with Starship set for test flight: What Wall Street is saying
SpaceX stock loses more altitude with Starship set for test flight: What Wall Street is saying
Brian SozziThu, July 16, 2026 at 5:56 PM UTC
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SpaceX (SPCX) stock has lost more than a little altitude.
After a record-setting public listing, SpaceX shares are dipping further below their $135 IPO price. The stock fell for a fifth straight session on Thursday to $133.32. It first dropped below the IPO price on Wednesday, a blow in the wake of the company's blockbuster Nasdaq debut last month.
The five-day losing streak reveals a critical reality: The initial retail investor euphoria has evaporated more quickly than anyone on the underwriting team was prepared to admit publicly.
What makes this especially uncomfortable is twofold.
One: SpaceX has its 13th Starship test flight scheduled for later today — a moment that should generate the kind of headline-grabbing excitement that sends the stock higher.
"Given the highprofile nature of the event and Starship's importance to the company's long-term plans, we could see the stock move, with the direction depending on the outcome of the test," said JPMorgan analyst Seth Seifman ahead of the launch.
Instead, the market is yawning.
This is about the worst possible signal for a company whose entire valuation is built on an audacious, expensive, long-term vision that requires the investors to buy in unconditionally.
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And two, a series of restrictions on additional stock sales by insiders, employees, and early investors will lift over the next several months — and potentially pressure the stock further.
Rank-and-file employees and some early investors will be able to unload 911.5 million shares on the second trading day after the company's first quarterly report. SpaceX hasn't disclosed its earnings date yet, but it's expected in August.
Amid the sell-off, Yahoo Finance chatted up SpaceX believers on Opening Bid to see if the slide has dented their confidence in the company and CEO Elon Musk.
"I think it just comes down to a name like SpaceX, they're going to be central to this broader theme that we see in terms of the AI revolution … it's betting on Musk. It's betting on Musk as much as it is SpaceX. I think that's what so many investors are doing," said Yorkville Ives & Co. partner Dan Ives.
"I do think that this is a stock you're buying for the next three to five to 10 years. It's in our thematic portfolio, which has a focus on space. So I, I just view this [pullback] as an opportunity. We've added to it as it's gone down, and we will continue to do so," said Nancy Tengler of Laffer Tengler Investment.
"I think it is a bet on Elon. And that's been a pretty good bet in the past. He has described himself as programmed for war. And he frequently teeters on the edge of disaster and pulls back just in time. So I'm long-term optimistic," she added.
Brian Sozzi is Yahoo Finance's Executive Editor, host of the 'Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.
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Source: “AOL Money”
