SpaceX Drops 5% to $192 as Sosnoff Predicts Fall Below $135 IPO

SpaceX shares (SPCX) fell 5% to $191.82 on June 18 after the Fed held rates steady, extending the pullback from intraday highs above $225. The stock had surged from its $135 June 12 IPO price to over $210 within days on heavy options volume, thin float, and leveraged ETF inflows that briefly pushed valuation past $2.5 trillion. Momentum cooled as profit-taking accelerated and bearish voices emerged, including Tom Sosnoff selling at $158 and warning of a drop below the IPO level. Analysts remain divided with targets ranging from $63 to $190, while Reddit sentiment collapsed from 76 to 30.