SpaceX shares slump toward IPO price despite FAA green light

Trading at approximately $139, the aerospace company’s shares are hovering near their $135 IPO price, significantly trailing the $150 level seen during last month’s public debut. This downward trend persists despite the FAA closing its investigation into the Flight 12 anomaly, confirming no public injuries or property damage occurred during the incident. The regulator has now accepted the corrective measures proposed by SpaceX, allowing preparations for the upcoming test flight to move forward.

Market sentiment remains decoupled from these corporate milestones. Even the recent inclusion of SpaceX in the Nasdaq-100 index—a move usually guaranteed to attract institutional capital—has failed to stabilize the price. While institutional analysts at Morgan Stanley, Goldman Sachs, and Citi maintain bullish ratings, the stock remains far from its record highs. Raymond James stands as the most optimistic outlier, recently initiating coverage with a Strong Buy rating and an aggressive $800 price target. For investors, the immediate focus is not on long-term projections, but on whether the execution of the next Starship launch can finally break the current cycle of selling pressure.