Bloomberg Surveillance · Friday, July 17, 2026
SpaceX's recent trading performance, falling below its IPO price, is being viewed as a signal of current speculative appetite. Michael Ball noted that the company was initially marketed with a "neo cloud in the sky" narrative and has since fallen into a momentum unwind related to AI. This IPO's performance is seen in the context of a potential shift away from highly valued, speculative tech ventures.
“Two weeks ago SpaceX was a shiny object, but it's now trading below it's IPO price. Yeah, it's at about one twenty four and change.”
“It came in very expensive valuation wise, and it also was sort of marketed as a neo cloud in the sky literally floating around the planet versus a rocket ship company.”
“And it's now fallen into this momentum Unwine and almost all things AI.”