Is SpaceX stock still a buy after post-IPO plunge?
SpaceX (NASDAQ: SPCX) stock has undergone a sharp reversal just weeks after completing the largest IPO in history, raising questions about whether the pullback presents a buying opportunity or signals further downside. After debuting at $135 per share in June 2026 and rallying to a post-IPO high of about $226, SpaceX stock has fallen to $124 as of press time. The decline of roughly 45% from its peak has pushed shares below their IPO price and wiped nearly $1 trillion from the companys market value, reducing its valuation from about $2.6 trillion to $1.6 trillion. SPCX 30-day stock price chart. Source: FinboldWhy SpaceX stock plunged post-IPO The sell-off reflects a common post-IPO pattern, with early enthusiasm giving way to profit-taking, insider selling, and valuation concerns. Additional pressure has come from share unlocks, rising short interest, a recent Starship testing setback, and a broader pullback in speculative technology stocks. Even so, SpaceX remains among the worlds most valuable public companies. The strongest case for buying SpaceX stock is Starlink, the companys primary revenue and profit driver. The satellite broadband service now serves more than 10 million users worldwide, generating recurring, high-margin revenue from consumer, enterprise, and government customers, including Starshield contracts. Notably, SpaceX generated $18.7 billion in revenue in