"SpaceX, which promised to go to space, sees 1,500 trillion won evaporate... What will happen to retail investors who trusted Musk?"
- Input
- 2026-07-21 15:20:07
- Updated
- 2026-07-21 15:20:07
IPO Price Collapse. 34% from the previous trading day. This marks 10 consecutive trading days of decline, widening the gap after falling below the offering price ($135) for the first time since listing last week.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.
It had surged to as high as $225 during trading immediately after listing last month. Market capitalization has also shrunk rapidly. 64 trillion recorded on the 16th of last month.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.SpaceX, which had overtaken Amazon last month to climb to fifth place in market capitalization among U. S. listed companies, fell to eighth place in just over a month, yielding its position to Metaplatforms today following Broadcom.
Space ETFs Hit Hard. Retail Investors Join 'Exodus' The crash of SpaceX has spread directly to domestic space-related exchange-traded funds (ETFs) that hold the stock. 84%.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.
77%) also recorded losses of nearly 30%. This is due to the fact that, having failed to benefit from the initial surge following listing, the stock prices of existing space companies included in the funds, such as Redwire, also underwent a simultaneous correction. As returns plummeted, the exodus of retail investors is also accelerating.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.Since the beginning of this month, individuals have net sold 50 billion won worth of shares in domestic space ETFs that include SpaceX. The selling pressure was particularly concentrated in 'TIGER Aerospace Tech,' with approximately 32 billion won flowing out of the fund alone. This is interpreted as a flood of sell orders driven by disappointment, as investors were unable to acquire SpaceX at the low offering price due to the initial lack of IPO allocation, and losses continued to snowball.
A 'Triple Burden' of Overvaluation, Earnings Concerns, and Lock-up Periods. Excessive valuation and earnings concerns are cited as the primary reasons behind the stock price crash.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.
SpaceX's price-to-sales ratio (PSR) once approached 100 times. This signifies that its market capitalization is more than 100 times larger than its annual revenue, implying that expectations for future growth were already reflected in the stock price.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.In this situation, the next-generation launch vehicle 'Starship,' a key driver of future growth, has repeatedly hampered progress. The 13th test launch, scheduled for the 16th, was postponed due to partial engine ignition failures, and the 'Falcon 9' rocket launch scheduled for the morning of the 20th was also canceled.
Furthermore, expectations for expanded investment in AI infrastructure have partially retreated after CEO Elon Musk denied reports of a $52 billion order for AI servers as "fake news. " The lifting of lock-up periods scheduled for early next month is also a burden.
Lock-up periods for institutional holdings will begin to expire in stages immediately following the second-quarter earnings announcement, meaning a significant portion of the total shares could be released into the market by the end of the year. It is pointed out that investor sentiment will be difficult to recover easily, given the significant concerns about further declines due to the release of supply.
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.
"Short-term correction vs. verification phase".
Courtesy of Newsis [Financial News] SpaceX, which debuted on the New York Stock Exchange with the largest initial public offering (IPO) in human history, is plummeting. It has fallen below its offering price just over a month after listing. Its market capitalization has evaporated by more than 1,500 trillion won from its peak, and the worries of domestic "space ants" who jumped in trusting only in SpaceX are deepening.Conflicting views Views in the securities industry are divided regarding the future outlook. "Seo Sang-young, an analyst at Mirae Asset Securities, stated, 'Amid concerns about the volume expected to flow in following next month's earnings announcement, the partial retreat of expectations for expanded AI infrastructure investment after Musk denied reports of AI server orders acted as a burden.
'" Jeong Ui-hoon, an analyst at Eugene Investment & Securities, assessed, "While the listing of SpaceX may increase volatility in existing stocks, it could serve as a catalyst to boost interest in the space industry as a whole and increase capital inflows, so a mid-to-long-term approach is necessary. " An official from the financial investment industry said, "If Starlink's growth momentum is reconfirmed in the next quarter's earnings, the upward momentum of the entire space sector could be restored," adding, "The success or failure of the 13th Starship test launch attempt scheduled for the 23rd is expected to be a crucial variable in the recovery of investor sentiment.
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[email protected] Han Young-jun Reporter