SpaceX shares fall over 5%, extending post-IPO slide to 20%
The stock closed at $112.55 after a fresh $1.6 billion U.S. Space Force launch order, as investors focused on a coming share unlock and the company’s August 4 earnings report.
SpaceX shares remained under pressure even after the company secured a new $1.6 billion U.S. Space Force order for 18 Falcon 9 launches through 2027, with the stock closing at $112.55 on Wednesday, July 29, down 3.32% on the day. The decline followed a record low of $107.01 on Tuesday and left the shares below their $135 IPO price and roughly 29% lower over the past month after peaking at $225.64 in mid-June. Investors are watching a share unlock around August 6 that could increase supply, along with the company’s August 4 earnings report. The Space Force missions were awarded under the National Security Space Launch Phase 3 Lane 1 program and will support the Pentagon’s Space Based Sensing and Targeting effort. Reuters said SpaceX has now won at least $7 billion in Pentagon deals this year, building on a $6.5 billion military satellite award in May. Rival setbacks at United Launch Alliance and Blue Origin have widened SpaceX’s lead in national security launches, even as some lawmakers continue to question the military’s dependence on a single contractor.
- share unlock: The point when previously restricted shares can be sold, potentially increasing supply in the market.
- National Security Space Launch Phase 3 Lane 1 program: A U.S. military launch procurement program under which eligible companies compete for national security space missions.
- Falcon 9: SpaceX's orbital launch rocket used to carry satellites and other payloads into space.