SpaceX Stock Falls to $123.99, Down 40% One Month After IPO

According to Financial Times, SpaceX stock fell to $123.99 on July 18, hitting an all-time low and dropping 40% from its peak reached in mid-July. The stock had broken below its $135 IPO price for the first time on July 15. Short sellers have captured approximately $4 billion in unrealized gains over the past month, with short interest reaching 30% of outstanding shares, up 10 percentage points in ten days, according to S3 Partners.

In the bond market, SpaceX's 30-year debt yield surged from 6.7% to 7.4% following the company's $25 billion bond issuance, approaching speculative-grade levels. The company's credit default swap (CDS) price reached 158 basis points, according to Bloomberg, meaning investors pay approximately $158,000 annually to insure $10 million in bonds against default over five years—up significantly from $110,000 less than a month ago.