SpaceX gives up most post-IPO gains as stock retreats 20% from peak

SpaceX shares fell about 20% from their post-IPO peak above $225, declining 3.6% to around $184.98 on Thursday, with the five-day VWAP at $181.71, bringing most post-listing gains close to breakeven against the $135 IPO price. Separately, SpaceX is preparing an investment-grade bond issuance of at least $20 billion, set to be its first US dollar-denominated offering, after securing BBB-range credit ratings from all three major agencies to refinance a $20 billion bridge loan maturing in September 2027.