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SpaceX's Mega Rally Hits First Stumble

June 1, 2026

2 min read

Key Takeaways

SpaceX's shares dropped nearly 5% on market close on Wednesday.
The company's market cap soared to nearly $3 trillion after its IPO.
SpaceX announced a $60 billion deal for AI coding startup Cursor.
The company posted a $4.9 billion loss in 2025 on revenue of $18.7 billion.

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Strategic Implications

This slowdown may indicate that investors are reassessing SpaceX's valuation, which could suggest a shift in market sentiment towards the company's growth prospects. The acquisition of Cursor may indicate a strategic move to expand into new markets, which could potentially drive growth and justify the company's high valuation.

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What Happened

Post-IPO Surge Slows Down Amid Analyst Questions

SpaceX’s post-IPO mega-rally has hit its first slowdown, with shares dropping nearly 5% on market close on Wednesday. The company’s market cap had soared to nearly $3 trillion after its IPO, eclipsing Amazon as the world’s fifth most valuable company. SpaceX has been busy since its history-making IPO, announcing a $60 billion deal for AI coding startup Cursor. The company’s valuation had been questioned by some analysts in the run-up to the IPO, with SpaceX posting a $4.9 billion loss in 2025 on revenue of $18.7 billion. This story was first reported by Business Insider.

Source | Originally Published: June 1, 2026

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