Slides Below IPO Price Amid Short-Seller Pressure

SPCX closed at $135.28 on July 15, 2026, down 0.59% from the prior close of $136.08, after an intraday round trip that took the stock from a session high of $139.34 down to $132.15 before it pared losses.

Executive Summary

SpaceX shares (SPCX) traded lower on July 15 and briefly dipped below their $135 IPO offer price intraday, touching a session low of $132.15 before recovering into the close at $135.28. Coverage from Benzinga and other outlets centered on the stock's slide toward and through its IPO offer price for the first time since the June 12 debut, with commentary framing the move as a test of investor conviction and of the newer single-stock ETF products tied to SPCX. Other headlines in the day's roundup covered unrelated Musk-affiliated stories (Tesla, X/Twitter, Wisconsin voter-giveaway scrutiny) and third-party analyst commentary, including a Needham price-target update and a note from an analyst flagging that SpaceX is not expected to be profitable until 2027.

The net effect on the tape was a continuation of the pullback that has been in place since SPCX's June 16 peak, with the close landing just $0.28 above the $135 IPO offer price.

News

1. Investing In Elon Musk Is 'Faith-Based': Julie Hyman's Warning Rings True As SpaceX Breaks Below IPO Price

SpaceX broke below its $135 IPO price as short sellers pile in. Polymarket traders price 57% odds of a $1.5-$2 trillion month-end market cap. (Benzinga, Jul 15, 3:49 PM ET)

2. SpaceX Slides Below IPO Price, Putting Single-Stock ETFs Through Their First Major Test

SpaceX fell below its IPO price ahead of a crucial Starship test flight, putting leveraged, inverse and covered-call ETFs tied to the stock in focus. (Benzinga, Jul 15, 3:28 PM ET)

3. SpaceX (SPCX) Stock Falls Below $135 IPO Price

Space Exploration Technologies Corp (NASDAQ:SPCX) stock fell below its IPO price of $135 for the first time on Wednesday. (Benzinga, Jul 15, 2:12 PM ET)

4. European Commission Accepts X's Corrective Measures To Terminate Breaches Of The Digital Services Act

(Benzinga, Jul 15, 12:24 PM ET)

5. Chamath Palihapitiya Sees ‘Very Obvious Industrial Logic’ in SpaceX Acquiring Tesla to Fund Elon Musk’s Broad Swath Of Projects

Investor Chamath Palihapitiya believes merging SpaceX and Tesla could bring strategic and financial benefits, despite potential hurdles. (Benzinga, Jul 15, 11:01 AM ET)

6. 'Cursor Is Reinventing Itself as SpaceX Deal Looms' - The Information

(Benzinga, Jul 15, 9:16 AM ET)

7. CrowdStrike To Rally Over 12%? Here Are 10 Top Analyst Forecasts For Wednesday

Top Wall Street analysts changed outlook on top names. See all changes, including upgrades/downgrades, on our analyst ratings page. (Benzinga, Jul 15, 9:06 AM ET)

8. Elon Musk Posts On X "Once we have completed our review for security vulnerabilities, we will make the entire codebase of 𝕏 open source, with no exceptions. Moreover, we will invite third party reviewers to examine the system that is running to confirm that the open source code is what is running. Trust through total transparency is the only thing that should be believed."

(Benzinga, Jul 15, 8:14 AM ET)

Price Action

Metric	Value
Open	$137.505
High	$139.34
Low	$132.1501
Close	$135.28
Change vs prior close	-$0.80 (-0.59%)
Volume	54,484,512
Intraday range	$7.19
Close vs IPO offer price ($135.00)	+$0.28 (+0.21%)

Prior session close was $136.08 on prior volume of 46,779,319 shares; today's volume of 54,484,512 came in higher day-over-day but remained well below the average volume to date of 116,135,827, per the indicator feed's volume-vs-average reading of roughly 0.39x. The session's defining feature was the breach of the $135 IPO offer price intraday — the low of $132.15 traded through that level before buyers stepped back in and pushed the close back above it.

Close vs IPO: SPCX finished essentially flat against its $135.00 IPO offer price and remains down sharply from the $160.95 first-day close.

The stock briefly traded below its IPO offer price intraday before closing $0.28 above it, on volume that stayed under the stock's average.

Technicals

SPCX has been public for roughly a month, so standard longer-window technicals are not yet fully seasoned. The 14-day RSI and short moving averages below are computed from the available history, but the 50-day and 200-day moving averages are not yet meaningful (insufficient bars) and are omitted rather than estimated.

Trend

The stock has been in a sustained downtrend since its June 16 closing high of $201.80, with closes falling in most sessions since, including six straight down closes into today from the July 8 close of $148.30 area highs. The moving-average stack is bearishly ordered: SMA-5 ($141.59) sits below SMA-10 ($148.57), which sits below SMA-20 ($158.54) — shorter-term averages below longer-term averages, consistent with a stock still trending lower.

Candle read

Today's candle opened at $137.505, pushed up to a session high of $139.34 (an upper wick of $1.84), then reversed sharply to a session low of $132.1501 (a lower wick of $3.13) before closing at $135.28. The resulting range of $7.19 is wide for this stock, and the close location of 0.44 means the close finished just below the midpoint of the day's range — the body itself was a $2.22 decline from open to close. The long lower wick indicates some buying interest emerged after the drop toward $132, but the close still landed in the lower half of the day's span.

Support levels

• $132.15 — today's session low, the first level tested on any renewed selling
• $130.00 — nearest round-number level below today's low

Resistance levels

• $136.08 — prior session close, now overhead after today's close
• $139.34 — today's session high
• $141.59 — SMA-5

Momentum interpretation

Bull scenario: a reclaim and hold above the prior close of $136.08, followed by a move through $139.34 and the SMA-5 at $141.59, would indicate the pullback is stabilizing.

Bear scenario: a break below today's low of $132.15 and a failure to hold the $130.00 round-number level would signal continuation of the downtrend from the June highs.

Neutral scenario: continued churn between the $132.15 low and the $136.08–$139.34 zone, without a decisive break of either boundary, would suggest consolidation rather than a resolved trend.

Trading Takeaway

SPCX spent July 15 testing and briefly breaching its $135 IPO offer price before closing marginally above it, extending a downtrend that has been in place since the June 16 high. RSI-14 at 40.38 reflects bearish but not oversold momentum, and the bearishly stacked short-term moving averages (SMA-5 below SMA-10 below SMA-20) support the case that the path of least resistance has been lower. Volume on the down move stayed below the average-to-date, which tempers the conviction behind today's breach of the IPO price. Key levels for the next session: support at $132.15 and $130.00, resistance at $136.08, $139.34, and $141.59.

Sources

1. Investing In Elon Musk Is 'Faith-Based': Julie Hyman's Warning Rings True As SpaceX Breaks Below IPO Price — Benzinga
2. SpaceX Slides Below IPO Price, Putting Single-Stock ETFs Through Their First Major Test — Benzinga
3. SpaceX (SPCX) Stock Falls Below $135 IPO Price — Benzinga
4. European Commission Accepts X's Corrective Measures To Terminate Breaches Of The Digital Services Act — Benzinga
5. Chamath Palihapitiya Sees 'Very Obvious Industrial Logic' in SpaceX Acquiring Tesla to Fund Elon Musk's Broad Swath Of Projects — Benzinga
6. 'Cursor Is Reinventing Itself as SpaceX Deal Looms' - The Information — Benzinga
7. CrowdStrike To Rally Over 12%? Here Are 10 Top Analyst Forecasts For Wednesday — Benzinga
8. Elon Musk Posts On X "Once we have completed our review for security vulnerabilities, we will make the entire codebase of 𝕏 open source..." — Benzinga
9. SpaceX Engineers Raise $115 Million to Make Construction Faster, Cheaper and Safer After Learning At 'a Crazy Pace' Under Elon Musk — Benzinga
10. Elon Musk Faces Possible Election Bribery Charges in Wisconsin Over $1 Million Voter Giveaway — Benzinga
11. With a Nearly 7% Dividend Yield, Is Verizon Stock a Buy on SpaceX Fears? — The Motley Fool
12. Needham Maintains Buy on SpaceX, Raises Price Target to $250 — Benzinga
13. Elon Musk's SpaceX Won't Turn Profitable Until 2027, Analyst Says: 'Still Not Sure What People See…' — Benzinga
14. SpaceX Fell Below Its Debut Price. History Says a $10,000 Investment Will be Worth This Much in a Year. — The Motley Fool
15. Missed Out On The SpaceX IPO? Buy These Industrial Giants Instead. — The Motley Fool
16. Why Rocket Lab Stock Jumped 46% in the First Half of 2026 and Why It Could Rocket Even Higher — The Motley Fool
17. 3 Space Stocks That Could Outshine SpaceX After Its IPO — Investing.com
18. Fantastic News for SpaceX Stock Investors! — The Motley Fool
19. Alpaca Markets (SIP) — market data

Disclaimer

This report is for informational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market data and technical readings are subject to revision and may not reflect real-time conditions. Verify all figures independently before making any financial decision.