SpaceX shares (Nasdaq: SPCX) fell 5.4% on Thursday, July 17, 2026, closing at $123.99 and extending a multi-session decline that has pushed the stock roughly 8% below its $135 IPO price, just five weeks after the company completed the largest initial public offering in U.S. history.

Volume was heavy, with more than 83 million shares changing hands on the Nasdaq, well above recent averages. At the closing price, SpaceX carries a market capitalization of approximately $1.63 trillion, down from the roughly $1.77 trillion valuation implied by its June 12 offer price, per CNBC’s coverage of the IPO pricing.