Back
SpaceX shares fall below IPO price as shorts gain and 2056 bonds hit low

SpaceX shares fall below IPO price as shorts gain and 2056 bonds hit low

After SpaceX’s June 12, 2026 Nasdaq debut at a $1.77 trillion valuation, the stock slid to about $111-$115, short sellers built large paper gains, and 2056 bonds fell to record lows ahead of earnings and a share unlock.

Fact Check
Every element of the claim is corroborated by multiple independent, high-authority sources. CNBC confirms the $1.77 trillion IPO valuation at $135/share, and Reuters confirms the June 12, 2026 Nasdaq debut. Bitcoin.com and the Reuters short-seller article confirm the July 23, 2026 slide to ~$111-115 (a record low of $115.26). Reuters explicitly quantifies short sellers' paper gains at $15.5 billion. Yahoo/beincrypto confirm the 2056 bonds fell to a record low ahead of Q2 earnings (Aug. 4) and a large share unlock (~911.5M shares). The claim is a faithful summary; the only nuance is that the stock initially surged past $2 trillion on debut before declining, which the claim's framing ('shares fall below IPO price') captures accurately as a later development.
Summary

SpaceX, trading on Nasdaq as SPCX, has dropped well below its $135 IPO price after surging to an intraday high of $225.64 on June 16, with shares around $111-$115 by July 23 and a low of $115.26 cited for Wednesday. The decline left the stock about 18%-20% below the IPO price and roughly 48%-50% below its peak, while Ortex Technologies estimated short sellers had accumulated about $15.5 billion in paper gains since the mid-June listing. At the same time, SpaceX’s 2056 bonds fell below 89 to a record low, pushing yield to worst to 7.6% and widening credit spreads to more than 230 basis points. Investors are watching the rescheduled Starship test flight, SpaceX’s first public quarterly earnings report due Aug. 4, and a potential Aug. 6 unlock of 911.5 million restricted shares.

Terms & Concepts
  • yield to worst: The lowest potential bond yield an issuer can force through call or early redemption terms.
  • credit spreads: The extra yield investors demand over safer debt to compensate for credit risk.
  • free float: Shares available for public trading.