SpaceX closed at $115.26 on July 22, more than a month after Tom Sosnoff said the stock would fall below its $135 IPO price.
SpaceX shares closed at $115.26 on July 22, 2026, down 6.70% in the U.S. regular session. The move came 34 days after options trader and thinkorswim co-founder Tom Sosnoff said the stock would trade below its $135 initial public offering price.
SPCX first closed below the IPO price at $131.11 on July 16. It continued lower over the following sessions and reached its lowest closing price since the listing on July 22.
Sosnoff called for a move below $135
In an interview published by Benzinga’s The Drift on June 18, Sosnoff said he felt strongly that SpaceX would trade below $135. He expected the decline to happen before the end of 2026.
Sosnoff also said he had sold his entire SpaceX allocation at $158. He cited the stock’s valuation and unusually expensive call options among his reasons for avoiding a long-term position.
The forecast identified a price threshold, not an exact closing price or date. Sosnoff did not predict the July 22 close of $115.26, and there is no public evidence that he opened a short position or profited from the subsequent decline.
Shares first closed below the IPO price on July 16
SpaceX priced its IPO at $135 a share and began trading under the ticker SPCX on June 12. The stock climbed as high as $225.64 during the June 16 session, four days after its market debut.
One month later, SPCX closed at $131.11 on July 16. That was its first regular-session close below the offering price and came 28 days after Sosnoff’s comments were published.
| Price point | Price |
|---|---|
| June 12 IPO price | $135.00 |
| June 16 intraday high | $225.64 |
| July 16 close | $131.11 |
| July 22 close | $115.26 |
The July 22 close was 14.6% below the IPO price
SPCX fell $8.28, or 6.70%, on July 22. It traded as low as $115.19 before ending the session at $115.26.
The closing price was 14.6% below the $135 offering price and 48.9% below the June 16 intraday high. Those comparisons use the latest completed U.S. regular session and do not include unsettled premarket or after-hours trading.