· Event impact
SpaceX Falls Below $135 IPO Price; Analysts Warn of 50% Downside Risk
Transmission path
Valuation compression in high-growth, pre-profit mega-caps as liquidity conditions tighten or sentiment shifts.
Market mechanism
Valuation compression in high-growth, pre-profit mega-caps as liquidity conditions tighten or sentiment shifts.
Extended read
SpaceX's fall below its $135 IPO price is a significant technical and psychological level for the most anticipated listing of 2025. Despite its dominant position in space launch and satellite internet, the company's $1.7 trillion valuation is coming under pressure. Analysts point to a forward Price-to-Sales multiple of 40x and a decade-long path to profitability as primary concerns. The breach of the IPO price often triggers further selling as institutional 'flippers' exit and retail sentiment sours. With historical precedents suggesting further declines in the first 90 days of trading, the market is closely watching for a floor.
Exposed assets
SPCX
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