SpaceX Sinks Back to Where It Started

Author: David Rovella URL: https://www.bloomberg.com/news/newsletters/2026-07-15/spacex-sinks-back-to-where-it-started-evening-briefing-americas?srnd=undefined One-line: SpaceX shares fell to their lowest level since going public — briefly dipping below the IPO price — as the post-IPO hype around Elon Musk’s “rocket-satellite-AI venture” fades.

Key claims

SpaceX shares slumped to their lowest level since the company went public, framed by the author against the “breathless” Wall Street and media hype that accompanied the IPO.
The stock briefly fell below its initial offering price on Wednesday, a notable reversal from the frenzy that surrounded the listing.
The piece frames SpaceX as a combined “rocket-satellite-AI venture,” situating the stock’s slide within broader skepticism about IPO hype cycles (“Don’t Believe the Hype”).

“This is especially the case for investors in Elon Musk’s rocket-satellite-AI venture SpaceX.”

“The stock on Wednesday even briefly fell below its initial offering price.”

SpaceX — subject; documents the stock’s slide back toward (and briefly below) its IPO price.
Elon Musk — described as the figure behind the venture; the piece’s skepticism is aimed at the hype built around his company.