SpaceX stock closed at $140 on Friday, still well below the $225.64 high it hit just days after its record-breaking IPO in June.
The company, officially named Space Exploration Technologies Corp, began trading on the Nasdaq under ticker SPCX on June 12, 2026, at $135 a share.
Since that debut, SPCX has been a wild ride. Shares have climbed, crashed, and climbed again as new stock unlocks, and investors weigh SpaceX's fast growth against its ongoing losses.
Here's where things stand now, and what could move the stock next.
SpaceX stock (SPCX) closed at $140.00 on Friday, down about 0.9% for the day. Shares moved between $135.50 and $144.02 during the session, a fairly narrow range for this stock.
Zoom out and the swings look much bigger. Over the past year, SPCX has traded as low as $104.83 and as high as $225.64. That covers the stock's entire trading history so far.
SpaceX's market cap sits close to $1.8 trillion. That makes it one of the largest public companies in the world less than three months after listing.
SPCX stock came out of the gate hot. It opened at $150, well above the $135 IPO price, and closed its first day near $161. By its fourth trading day, shares touched an all-time high of $225.64.
Since then, the stock has given back more than a third of its value. Two things are driving the pullback.
First, SpaceX is still unprofitable. The company posted a net loss in 2025 and again in the first half of 2026, even while revenue grew fast.
Second, and probably bigger, is supply. Only a small slice of shares could trade at the IPO. Employees, early investors, and Elon Musk all agreed to lockup periods.
As those lockups expire, more shares hit the market. The first big test came on August 6, when about 911.5 million shares unlocked at once, more than doubling the float. The stock actually rose that day.
By next spring, roughly ten times as many shares will be free to trade as were sold in the IPO. Musk's own stake, worth close to half the company, stays locked until June 12, 2027.
SpaceX split its lockup into stages instead of one single cliff. Here is the schedule for the rest of 2026 and into 2027, based on the company's IPO prospectus:
Lockup Stage | Trigger Date | Newly Eligible Shares | Cumulative Eligible Shares | Notes |
Timed release | Aug 20, 2026 | 319 million | 1.69 billion | Calendar-based release |
Timed release | Sept 9, 2026 | 319 million | 2.01 billion | Calendar-based release |
Separate tranche | Sept 10, 2026 | 59 million | 2.07 billion | Separate lockup tranche |
Timed release | Sept 24, 2026 | 328 million | 2.39 billion | Calendar-based release |
Timed release | Oct 9, 2026 | 328 million | 2.72 billion | Calendar-based release |
Timed release | Oct 24, 2026 | 328 million | 3.05 billion | Calendar-based release |
Q3 earnings release | 2 trading days after Q3 2026 results | 1.30 billion | 4.35 billion | Largest 2026 tranche |
180-day lockup ends | Dec 8, 2026 | 342 million | 4.69 billion | Main lockup group completes |
Extended release | 2 trading days after Q4 2026 results | 352 million | 5.04 billion | Extended group, excludes Musk |
Extended timed release | Mar 18, 2027 | 176 million | 5.22 billion | Extended-lockup group |
Extended earnings release | 2 trading days after Q1 2027 results | 352 million | 5.57 billion | Extended-lockup group |
Extended timed release | May 17, 2027 | 176 million | 5.75 billion | Extended-lockup group |
Extended timed release | Jun 12, 2027 | 352 million | 6.10 billion | Extended-lockup group |
Musk lockup expires | Jun 12, 2027 | 6.40 billion | 12.50 billion | No automatic early release |
Final extended release | 2 trading days after Q2 2027 results | 352 million | 12.85 billion | Completes extended group |
On the chart, SPCX has held above its early-August low of $104.83 for two weeks now. Buyers have shown up each time shares dipped toward the mid-$130s.
The old $135 IPO price is acting like a floor for now. Below that, the next real test sits in the $104 to $110 zone from early August.
On the upside, $150 has turned into a ceiling. Shares tried to push through that level recently, and sellers showed up fast.
A close above $150 that actually holds would be the clearest sign yet that buyers are back in control. From there, traders are watching $160 to $165, and eventually the old highs near $225.
Wall Street is split on where SpaceX stock goes from here. The average 12-month analyst target sits around $227, but estimates range widely, from as low as $62 to as high as $800.
That spread shows how new and hard to value this stock still is. The bullish case leans on fast revenue growth, rising Starlink and AI demand, and a founder locked out of selling for another year.
The bearish case points to ongoing losses, the wall of share unlocks still ahead, and a valuation that already prices in years of growth.
No one can say for certain where SPCX trades by December. If it holds $135 support and clears $150, the setup favors buyers. If it breaks back below $104.83, the next leg could be lower.
Either way, the lockup calendar above is likely to keep driving short-term swings through the rest of 2026.
Disclaimer: This article is for general information only and is not financial or investment advice. Price levels and targets mentioned above are not guarantees of what will happen. Always do your own research and speak with a licensed financial advisor before making any investment decision.