SpaceX Shares Volatile After Record-Breaking IPO
Space Exploration Technologies Corp. shares dropped 30% from their peak following the largest IPO in history despite reporting $14.6 billion in third-quarter revenue.
Shares of Space Exploration Technologies Corp. experienced significant volatility following the largest initial public offering in history. The stock debuted at a $1.8 trillion valuation and reached a peak of $225 per share before plummeting to $105. It later recovered to $144, marking a decline of approximately 30% from its high.
Financial reports for the third quarter of 2026 show strong growth, with revenue reaching $14.6 billion. This represents a 161% year-over-year increase fueled by the company's space, connectivity, and super intelligence segments. The super intelligence division, which includes the acquisitions of xAI and Cursor, contributed $6.7 billion in incremental revenue.
Market uncertainty remains high due to speculation regarding a potential merger with Tesla. Additionally, investors are weighing the ambitious projections of CEO Elon Musk, who predicted that annualized revenue could reach between $500 billion and $1 trillion by the end of 2027.
