SpaceX shares hit record low as lock-up concerns weigh

SpaceX shares hit record low as lock-up concerns weigh

Mon, July 27, 2026 at 6:52 PM GMT+3 1 min read

• SPCX +2.56%

SpaceX Corp (NASDAQ:SPCX) shares fell to an all-time low on Monday, dropping to $108.66 in early trading before recovering some ground to trade around $111 by late morning, as investors weighed concerns over an upcoming share lock-up expiration, valuation, capital spending and financing plans.

The stock has now lost nearly half its value from its post-initial public offering peak despite the company recently completing the 13th test flight of its Starship rocket.

Investor sentiment has been pressured by the company's upcoming first quarterly earnings release on August 4, which will be followed two days later by the expiration of its IPO lock-up period. The event is expected to allow early investors and employees to sell up to 911.5 million shares, representing about 20% of eligible locked stock, raising concerns about increased share supply.

The sell-off has also reflected questions over SpaceX's valuation. Even after Monday's decline, the company carried a market capitalization of roughly $1.46 trillion, a level some investors view as difficult to justify relative to its reported 2025 revenue of less than $19 billion.

Investors have also focused on the company's elevated capital expenditures tied to artificial intelligence infrastructure, including multibillion-dollar investments in computing resources, amid uncertainty over when those investments may generate meaningful returns.

Additional pressure followed reports that SpaceX is seeking to raise at least $20 billion through its first investment-grade bond offering, a move that underscores the company's significant funding needs as it continues to invest for growth before reaching positive cash flow.