SpaceX (SPCX) Crashes 10% on Investors’ Bond and Shutdown Fears — Here’s Why

Where are SpaceX shares trading now?

SpaceX (NASDAQ: SPCX) is off to a rough start to the week. On Monday the stock fell as much 10% during the dayfor the third straight session of losses, and is once again trading to the downside $165 The area after the previous week closed near $185.

This puts SPCX roughly 27% below its all-time high of $225.64It was set just days ago on June 16th. The decline follows a decline of more than 8% over the previous Wednesday and Thursday, before US markets paused for a holiday on June 16. In other words, much of the euphoric rally that followed the IPO has now been wiped out — although the stock is still trading comfortably above its IPO price of $135.

How did SpaceX stock get here so quickly?

SpaceX listed on the Nasdaq on June 12 The largest IPO in historyraised about $75 billion at an offering price of $135 and debuted with a valuation approaching $1.77 trillion. The first week was pure mania: Shares rose 19% on the first day and rose to $225.64 by June 16, with SpaceX briefly surpassing Amazon and Microsoft to become the world’s fifth-most valuable company.

Retail investors led the move, buying more SPCX shares than any other stock on the market for several consecutive sessions. Then the music stopped — and weak, sentiment-driven stocks began falling as quickly as they rose.

Why is SpaceX stock falling?

The decline is not a single scandal. It’s a pile of pressures hitting value-rich stocks at the same time.

• Selling huge bonds. The immediate impetus this week was news that SpaceX is preparing its first investment-grade US dollar bond offering, expected to total at least $20 billion. Proceeds will refinance a bridge loan due in 2027 and fund the company’s AI ambitions. Markets read a “massive borrowing spree” against an unprofitable balance sheet and sold off.
• Razor thin float. Only about 4-5% of SpaceX shares are freely tradeable; The rest is closed. This meager supply fueled the explosive collapse — and now it is amplifying the decline, as even a modest selling moves the price by several percent with little liquidity to absorb it.
• Extended evaluation. Even after the pullback, SPCX trades at a price-to-sales multiple north of 90x, versus the S&P 500’s ~3.7x, on a company that generated $18.7 billion in annual revenue but a significant GAAP loss. A former Nasdaq chief warned publicly this week that the stock is trading on hopes, not fundamentals.
• Lock expiration concerns. The supply abyss is beginning to emerge: The first insider sell windows open in the late July-August earnings period, the standard 180-day block ends near December 2026, and Elon Musk’s stake remains locked until June 2027. More tradable supply over time puts pressure on scarcity-based stocks.
• ESG black eye. MSCI gave SpaceX a CCC rating — its lowest level — citing governance and sustainability concerns. Musk dismissed this in his conversation with X, but the title was added to the negative strip.

Is the SpaceX crash a sign of trouble?

Not in the core business, according to most analysts. Starlink remains profitable and growing, with more than 10 million subscribers, $11.4 billion in revenue in 2025 and an adjusted EBITDA margin of 63%, while its launch business hit records in 2025. This decline reflects expensive inventory and a small float — not a deterioration in operations.

However, caution is real. One widely shared note this week predicted the SPCX would fall 50% or more by the end of the year as the hype fades. Morningstar’s fair value estimate is near $63, while the Wall Street consensus average is around $164 — close to where the stock is trading today.

**Investments carry risks. Trade responsibly.

What comes next for SPCX?

Two mechanical catalysts dominate the near-term picture. Around early July, the expected Nasdaq 100 listing could trigger a multi-billion-dollar wave of forced passive buying from index funds — demand driven by rules, not sentiment. Then, the post-IPO earnings report, due in early September, will provide the market’s first hard fundamental checkpoint, along with the end of a lull for underwriters and a deluge of new analyst coverage.

Until those arrive, expect more of the same: a stock with little float, driven by emotion, capable of swinging by double digits in a single session — in either direction.

How does the cryptocurrency market compare to the SpaceX market today?

While SPCX shares are bleeding, the cryptocurrency market is holding up much better — a useful contrast for anyone thinking about where to put risk capital. As of Monday, June 22, the picture looks like this:

• Bitcoin (BTC): Trading around $65,000rising modestly on the day after opening near $63,200 — broadly steady despite a more hawkish Fed.
• Ethereum (ETH): around $1,775recovered after a soft open near $1,705.
• $BNB: close $593steadfast.
• $ripple: around $1.14,almost flat.
• Solana ($SOL): close $72down about 2% during the day.
• TRON ($TRX): around $0.33modestly higher.

The total market capitalization of cryptocurrencies is located near $2.21 trillionrising by about 0.4% within 24 hours $ Bitcoin Dominance has remained strong as investors prefer companies with larger market capitalizations.

The takeaway for investors is the difference in personality. SpaceX is a brand-new, poorly placed single stock that is swinging 10% on the session on bond selling headlines and closing fears. The major crypto players — more mature markets with deep liquidity — are absorbing the same hawkish Fed macro backdrop relatively quietly. Both are volatile asset classes, but currently the volatility is concentrated in SPCX, not in BTC or ETH. For those building a diversified risk register, this contrast is important: a falling stock and a flat cryptocurrency bar can offer very different entry points at the same moment.

Why SpaceX’s decline could be a buying opportunity?

For long-term investors, a sharp pullback in a high-conviction name is often where the opportunity exists. The logic of buying the dip is simple: If your thesis about the underlying business hasn’t changed, a lower price means you’re buying the same company for a lower price. SpaceX’s withdrawal was not driven by business failure: Starlink is profitable and scalable, the launch business is hitting records, and the artificial intelligence sector is expanding. What went down was the price, not the fundamentals.

There are several factors that make this decline worth a closer look:

• The fundamentals are sound. This decline reflects an expensive valuation and weak trading, not a deterioration in operations. The core business is still growing.
• Mechanical order is coming. The expected listing of the Nasdaq-100 in early July may force index funds to buy SPCX regardless of sentiment – a structural headwind that does not care about short-term sentiment.
• Dollar cost averaging smoothes out volatility. Instead of trying to identify the exact bottom, buying in batches as the stock declines allows you to build a position at a better average price while avoiding the impossible task of perfect timing.
• Volatility cuts both ways. The same thin float that drives 10% down days also drives explosive bounces. Acute recovery can happen just as quickly as a fall.

However, buying dips is not risk-free. SPCX remains expensive by any conventional metric, and lock-up expirations later in 2026 could increase supply. The goal is not to catch the falling knife, but to collect high-quality assets at a discount if you believe in the long-term story.

How can you buy SpaceX Dip?

If you want to act on the decline, XTB One of the easiest ways to do this is – presentation Real SpaceX (SPCX) Stocknot synthetic exposure, so you actually own the shares listed on the NASDAQ.

Here’s why XTB stands out for SpaceX trading:

• Real stock ownership. You can buy actual SPCX shares, giving you real exposure to the company rather than a derivative product.
• Beginner-friendly platform. The award-winning XTB app and web platform make it easy to search “SPCX,” select your amount, and place an order in minutes.
• Partial investment. You don’t need the full stock price to get started – buy a slice of SpaceX with the budget you have, ideally for a lower average dollar cost.
• Low and transparent costs. Competitive commission structure with no hidden fees, so more of your capital goes into the position.

Getting started is simple:

1. Open a free XTB account via This link Complete the quick verification.
2. Fund your account Using your preferred deposit method.
3. Search for “SBCX” On the platform to find SpaceX shares.
4. Determine your amount – All or part of a share – and submit your purchase order.
5. Monitor and average in By adding to your position on additional dips if your thesis is correct.

👉 Buy SpaceX (SPCX) shares on XTB →

**Investments carry risks. Trade responsibly.