SpaceX Stays Near $150 IPO Price After Nasdaq-100 Inclusion Fails to Rally

SpaceX shares closed at a post-IPO low of $149.47 on July 8 and have since hovered near the $150 debut level through July 12 despite Nasdaq-100 inclusion. The stock erased nearly all early gains after peaking at $225.64, pressured by a $2 trillion valuation above 100x sales and staggered lockup expirations that will expand the tradable float from 4% to nearly 40% by December. Index-fund buying proved muted as broader tech weakness and competitive pressure from Blue Origin’s $10 billion raise weighed on sentiment. Historical IPO parallels and analyst warnings highlight ongoing supply overhang and limited near-term catalysts ahead of first earnings.