SpaceX shares climbed back above their $135 initial-public-offering price Monday for the first time in nearly a month, extending a sharp rebound from the selloff that followed the company’s first earnings report as a public company.

The stock closed at $138.74, up about 4%, marking its highest close since mid-July and putting it back above the $135 price at which SpaceX sold shares in its record June IPO.

The recovery has been fast. SpaceX shares fell as low as roughly $104.83 on August 3, meaning the stock has rebounded more than 30% from that low in just over a week.

The biggest change has been investor concern over insider selling. Hundreds of millions of early-investor and employee shares recently became eligible for sale as lockup restrictions expired, raising fears that a flood of new supply would pressure the stock.

That selling wave has not materialized at the scale investors feared.

The stock also gained 15.8% Friday, its second-best session since going public, helping erase much of the damage from the company’s first quarterly report. Investors had initially punished SpaceX over the amount of cash being directed toward artificial intelligence and other capital-intensive projects even as Starlink and launch revenue continued growing.

Retail investors are showing a different behavior now. They became net sellers of SpaceX shares Friday for the first time since the IPO, selling roughly $4.5 million, after spending weeks buying through the decline.

That shift looks more like profit-taking than abandonment. Retail investors bought roughly 30% of the IPO allocation and are estimated to have paid an average price around $147, leaving many still below their cost basis even after Monday’s rebound.

The $135 level matters because IPO prices often become psychological markers for recently listed companies. Falling below the offering price raised questions about whether investors had overpaid for SpaceX’s $1.77 trillion IPO valuation. Recovering above it reduces some of that pressure.

SpaceX is still far below its post-IPO high above $225, meaning the stock remains one of the market’s most volatile large-cap names.

The next important level is around $150, the price where SpaceX shares opened on their first day of public trading. A sustained move above that level would put a much larger portion of early public investors back into profit.

For now, Monday’s close marked an important reversal: the market absorbed the first major wave of post-IPO selling eligibility without the collapse many investors feared.

JBizNews Desk | Wall Street

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