SpaceX Stock Sinks to $138 Low as Lockups and China Rivalry Weigh

SpaceX shares fell to fresh lows near $138.35 on July 13, down more than 35% from the post-IPO peak of $225.64 reached in mid-June. After pricing at $135 and opening at $150 on June 12, the stock briefly touched $225 before erasing nearly all gains and trading below its $150 debut level amid heavy valuation concerns at roughly 100x revenue despite ongoing losses. Selling pressure intensified from the first wave of insider unlocks expected after August earnings, a potential 900% expansion in tradable float, and renewed competitive threats after China’s successful reusable booster landing.