Three months of SPCX: from the $135 IPO to $148 — what we learned

SpaceX listed on Nasdaq on June 12, 2026 at an IPO price of $135, opened at $150 on day one and closed at $160.95, a +19.2% debut that made it the largest IPO in history. Three months later, the stock has traded in a wide band between $104.83 and $176.42. Early August brought a deep pullback (a single-day -13.6% on Aug 5) followed by a sharp V-shaped rebound; early October saw a push above $176, before settling back near $148. My view: short-term swings are driven by Starship test-flight progress and Musk sell-down expectations, while the long-term story is Starlink and Starship industrialization. Would love to hear everyone's take!