SpaceX Shares Plunge 16%, Erase $600 Billion in Three Straight Days

SpaceX shares closed at $154.63 on June 23, 2026, marking the third straight day of heavy selling. The stock has shed 27.30% over three days, wiping more than $600 billion in market value.

As per Bloomberg, the steep drop follows SpaceX's announcement that it plans to sell investment-grade bonds for the first time. The move surprised investors and triggered a rapid exit from the stock.

Why Is SpaceX Stock Dropping So Fast Right Now?

The bond news caught markets off guard. SpaceX said the debt raise would help fund its artificial intelligence push, a scale of spending that made many shareholders uneasy.

On Monday alone, the stock fell 16.43% and closed at $154.60. That is the lowest closing price since SpaceX's first day of trading on the NASDAQ.

Even with the losses, shares are still around 15% above the $135 IPO price. SpaceX's market cap sits just above $2 trillion, keeping it among the six largest companies in the world.

What Does the SpaceX 15-Min Chart Show Right Now?

As per the CoinStats chart tells a clear story. A descending channel has been in place since SpaceX peaked near $220. The white trendlines on the 15-minute chart show a steady pattern of lower highs and lower lows.

The LuxAlgo Smart Money Concepts tool has printed three BOS, or Break of Structure, signals along the way. Each one confirmed that bulls failed to push back and that sellers kept control.

Where Is the Next Support Level for SpaceX Shares?

The most critical level right now is $150. The chart marks this as the "Weak Low," a level that has been visible since the start of the charted period.

Below $154.63, there is very little demand visible on the chart. If $150 breaks, the next area where buyers might step in would be around $145 or lower.

On the flip side, $165 to $170 is now the first resistance band. The $185 and $200 zones above that are marked as supply areas where sellers may return.

What Do the CHoCH Signals Mean for SpaceX Stock?

Two CHoCH, or Change of Character, signals appeared near $178 to $180 on June 19. These signals pointed to a possible short-term reversal, but the price failed to hold above $185.

After both signals, SPCX shares rolled over again. That means the attempted recovery was absorbed quickly by sellers and the downtrend stayed intact.

Can SpaceX Stock Recover After the Bond Selloff?

The bond announcement is the core catalyst for this drop. Investors may be pricing in the risk of heavy debt at a time when interest rates still matter.

If the bond offering lands well and rates are lower than feared, some buyers may return. But right now, the chart gives no technical sign of a reversal.

Volume in early Tuesday trading stood at 1.46 million shares. A sustained recovery would likely need to see volume jump well above that, combined with a close back above $165.

The short-term picture stays bearish unless the price reclaims the $165 to $170 range. Until then, the $150 Weak Low remains the level to watch.

Disclaimer

This article is for informational purposes only and does not constitute financial or investment advice. Trading and investing in stocks involves significant risk of loss. Past price performance does not guarantee future results. Always conduct your own research and consult a licensed financial advisor before making any investment decisions.