SpaceX stock got cut in half after joining an industry sell-off already underway: Chart of the Day
SpaceX stock has dropped more than 50 percent from its all-time intraday high. This decline places the company at the center of a broader sell-off that hit the space industry shortly before its public debut in June 2026.
Data shows that the downturn started before the SpaceX listing. While the stock saw an initial surge, it eventually joined other space-related assets in a sharp decline. A recent analysis of 17 new-space stocks, including Rocket Lab, AST SpaceMobile, and Virgin Galactic, highlights that the median stock in this group is down significantly from its peak earlier this year.
Investors are facing a situation where prices raced ahead of actual business performance. Many companies in the sector now struggle to convert contracts and satellite networks into consistent profits. Market trends indicate that these stocks are still under pressure, with most currently trading below their 50-day moving averages.
Looking ahead, technical indicators suggest the sector has not reached a bottom. The median Relative Strength Index remains above the typical oversold threshold. SpaceX is scheduled to report its first quarterly results on August 4. Until the stock stops making new lows and begins to build a base, it remains in a downward trend.