Shares of SpaceX fell 3.32% to $112.55 on Jul. 29 despite a $1.6 billion Space Force order for 18 Falcon 9 launches through 2027.
Key Points:
- SpaceX shares remain below the $135 IPO price after losing about 29% over the past month.
- The Space Force awarded two task orders covering 18 Falcon 9 missions through 2027.
- An Aug. 6 share unlock could add selling pressure after the company reports earnings Aug. 4.
SpaceX Stock Slide
Media reported that the shares closed Wednesday at $112.55, down 3.32%, even as the Space Force awarded two task orders covering satellites designed to detect and track airborne threats. The launches are scheduled through 2027.
The stock remains below its $135 IPO price after its Nasdaq debut and a $225.64 mid-June peak, and it touched a record low of $107.01 on Jul. 28 before recovering modestly.
Investors are also preparing for the Aug. 4 earnings report and an Aug. 6 unlock that could make up to 20% of restricted shares eligible for sale. That added supply may keep pressure on the stock.
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SpaceX Defense Deals
The Space Force placed the missions under its National Security Space Launch Phase 3 Lane 1 program, where United Launch Alliance, or ULA, Blue Origin and other U.S. firms compete amid congressional concern about reliance on one contractor.
Reuters said SpaceX has secured at least $7 billion in Pentagon contracts this year, including $6.5 billion awarded in May for communications and airborne-targeting satellite networks tied to the $185 billion Golden Dome program.
Morgan Stanley analyst Adam Jonas has valued SpaceX’s space and broadband operations at $136 a share, but the latest close shows investors remain focused on dilution risk and the company’s first public earnings report.
The immediate market reaction was cautious. The competitive gap has also widened as ULA examines a Vulcan booster-separation problem and Blue Origin investigates a May launchpad explosion that left New Glenn grounded.
Since its mid-June peak, SpaceX has lost about half its value, showing how quickly the company’s record-breaking IPO rally reversed.
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