SpaceX shares climbed back above their IPO price on August 10, officially recovering ground the stock had lost after tumbling to an all-time low earlier in the month. The Kobeissi Letter, tracking the move, noted the stock is now up roughly 30% over just three trading days.
The rally follows a rough stretch for the newly public company. Bloomberg reported that SPCX hit an all-time low of $104.83 on August 3, a steep drop from the stock's June 16 peak of $225.64, before staging a two-day surge that alone added more than $327 billion in market value.
A Volatile First Two Months as a Public Company
SpaceX went public on June 12, 2026, in the largest initial public offering ever, pricing at $135 per share and jumping 19.2% on its first day of trading to close at $160.95. The stock's round trip since then — surging to $225 within days of its debut, cratering to $104.83 less than two months later, and now clawing back to roughly its IPO price — illustrates just how much price discovery is still happening for a company of SpaceX's scale trading publicly for the first time.
What's Driving the Rebound
The scale of the two-day, $327 billion swing suggests the rally is being driven by more than routine buying — moves of that size in such a short window typically reflect short covering, options-related dynamics, or a broad repricing of sentiment rather than gradual accumulation. Whatever the mechanism, the recovery has been sharp enough to erase essentially all of the losses SpaceX had accumulated since its early-August low.
Related: Japan's Nikkei Adds $150 Billion in Value as Rally Extends
The swing also lands in the middle of a broader equity market that has had its own volatile pockets this year — from Intel's reaction to a $15 billion stock offering to large-cap names like Berkshire Hathaway facing fresh skepticism from prominent investors — a reminder that even well-capitalized, high-profile companies haven't been immune to sharp single-name moves in 2026's market.
As of August 10, SpaceX was trading just below its $135 IPO price, meaning the stock has essentially round-tripped back to where its public trading history began, less than two months after its debut.
