SpaceX Stock Falls 33% From June Peak on Rising Treasury Yields

SpaceX2 min read7 sources

Why is SpaceX stock down today?

SpaceX (SPCX) stock has slid 33% from its June peak to $151 on Tuesday as 10-year Treasury yields hit 5.02%, their highest since 2007, pushing FOMC rate-hike odds to near 90%.

Key numbers

IPO Price	$135/shareDay 1 close: $161 (+19%)
June 16 All-Time High	$225.64+67% from IPO price
Current Price (Sept 14)	$151.21-33% from June 16 peak
10-Yr Treasury Yield	5.02%Highest since 2007, +8 bps today
FOMC Hike Odds (Sept 16)	~88%CME FedWatch as of Sept 14 (per [6])
2025 Revenue	$18.7BStarlink: $11.4B (61% of total)

What happened

SpaceX (SPCX) stock has slid 33% from its June peak to $151 on Tuesday as 10-year Treasury yields hit 5.02%, their highest since 2007, pushing FOMC rate-hike odds to near 90%. SpaceX priced its IPO at $135 on June 12, 2026 — the largest in history, raising $75 billion — and hit an all-time high of $225.64 just four days later. A lock-up expiry on August 6 released over 911 million shares, worth about $116 billion, sending shares to a post-IPO low of $108.27. Rising bond yields are squeezing the multiple investors will pay for a company that lost $4.9 billion in 2025 on $18.7 billion in revenue.

Why it matters

SpaceX's $2 trillion market value makes it one of the most expensive companies on Earth compared with its revenue, so any shift in interest rates hits it harder than most stocks. When the Federal Reserve raises rates, future profits become less valuable today — a math that punishes expensive growth stocks like SpaceX hardest. Wednesday's Fed decision could either steady the stock or press it lower.

Who this affects

Marketbearish High impact: Growth stocks broadly pressured as 10-year yields hit 5%.
Companybearish High impact: SPCX shareholders are 33% off the June peak.
Competitorsneutral Low impact: Rocket Lab, Boeing, Lockheed unaffected by SpaceX re-rating.
Industrybearish Medium impact: Rate-hike cycle puts commercial space valuations under pressure.

SpaceX vs Rocket Lab, Boeing, Lockheed Martin


SpaceXSPCX:NASDAQ	~$2.0T	+12% since IPO	$23B	87x
Rocket LabRKLB:NASDAQ	$37.7B	-8% YTD	$769M	49x
BoeingBA:NYSE	$167.8B	+30% YTD	—	—
Lockheed MartinLMT:NYSE	$122.2B	+8% YTD	—	—

As of 2026-09-14

How we got here

Jun 12, 2026
SpaceX prices IPO at $135; closes at $161, raising $75B in history's largest IPO.
Jun 16, 2026
SPCX hits intraday all-time high of $225.64, up 67% from IPO price.
Aug 6, 2026
Lock-up expiry releases 911M shares worth ~$116B, flooding the market with supply.
Aug 10, 2026
SPCX bounces above $135 IPO price after $108.27 post-IPO low.
Sep 15, 2026
10-yr yield hits 5.02% and FOMC meeting opens; hike odds near 90%.