SpaceX Stock Holds Near $145 After $1 Trillion Market Cap Loss

SpaceX shares trade around $145, down 35% from the $225.64 post-IPO peak, erasing roughly $1 trillion in market value since the June 12 debut. The selloff reflects mounting valuation concerns at a $1.9 trillion market cap despite 10.3 million Starlink subscribers and AI infrastructure deals. Q1 2026 results showed a $4.28 billion net loss on $4.7 billion revenue driven by $10.1 billion in capex, following a $4.9 billion loss in 2025. While bond investors demand junk-like spreads and analysts flag negative free cash flow, some long-term bulls see potential rebound from Starlink scaling and orbital data-center growth.