SpaceX Stock Extends Slide Despite $1.6B Space Force Deal

SpaceX shares fell 3.32% on Wednesday, July 29, closing at $112.55. The drop came even as the company landed a fresh $1.6 billion order from the US Space Force covering 18 Falcon 9 launches through 2027.

The slide is part of a broader unraveling since SpaceX's Nasdaq debut. The stock priced its IPO at $135, then surged to an all-time high of $225.64 in mid-June before reversing hard.

A Contract That Couldn't Halt the Slide

Wednesday's drop extends a rough stretch for SpaceX stock. Shares hit a record low of $107.01 on Tuesday and still trade below the company's $135 IPO price. The stock has fallen roughly 29% over the past month. Investors are now bracing for a share unlock around August 6 that could add fresh supply to the market.

Rivals face setbacks of their own. ULA is still working through a months-long technical review of a booster separation issue on its Vulcan rocket. Blue Origin is still investigating a launchpad explosion that grounded its New Glenn rocket in May.

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