SpaceX is a Warning For Crypto and Tech Stocks, Peter Schiff Says

SpaceX stock (SPCX) closed just above $115 on Wednesday, nearly 20% below its June IPO price, while its 2056 bonds sank to a record low below 89.

The dual decline pushed the bonds’ yield to worst to 7.6% and reignited talk of an AI-driven valuation reset across stocks and crypto. SPCX now trades roughly 48% below its June peak of $225.64.

Bond Market Flashes a Warning Signal

SpaceX priced $25 billion in bonds in June across five tranches, with coupons ranging from 5.35% to 6.65%. The longest maturity, due in 2056, has fallen the most and now trades alongside junk-rated debt.

Zerohedge reported the bonds slipping below 89 this week, alongside a broader selloff in hyperscaler debt. The move echoes the market top signal analysts flagged shortly after the IPO priced.

Credit spreads on the 2056 notes have widened from roughly 175 basis points at issuance to more than 230 basis points now.