Business
SpaceX shares drop after historic IPO first month
Synthesized from2 sources
AI-generated summary
SpaceX shares drop after historic IPO first month
SpaceX shares traded at $145 at the end of the first month, down from an intraday high of $225 and below the first-day closing price of $160.95.
- SpaceX debuted on the public market on 12 June 2026, pricing shares at $135 each, with the IPO becoming the largest in history.
- The company acquired AI coding startup Cursor for $60bn in an all-stock deal on 16 June, when shares peaked at $225.
- Starlink cut prices in Memphis on 1 July amid local concerns over a data centre project, causing an 8% daily share decline.
- Elon Musk said SpaceX would generate $1tn in yearly revenue by 2030, and Morgan Stanley set a target share price of $300.
Coverage
2 outlets — read the original reporting
Every story is brought together from multiple sources into a single, clear summary — with every perspective kept, not flattened.