SpaceX stock falls 4.11 percent as share unlock nears

SpaceX stock stood at USD 148.36 on NASDAQ on September 23, 2026, down USD 6.36 or 4.11 percent from the prior session. The immediate pressure point is a potential share unlock of up to 328.4 million shares on September 24, as MarketBeat reported.

Share supply meets high valuation

The potential unlock matters because SpaceX carries a market capitalization of USD 1,955,648,872,640 as of September 23, 2026. Its 52-week range runs from USD 104.83 to USD 225.64, putting the latest quote USD 77.28 below the yearly high.

MarketBeat also cited a consensus target of USD 221.42 and a planned Starship orbital flight on September 28. The target sits USD 73.06 above the September 23 quote, a gap of 49.2 percent.

Revenue is shifting beyond launches

SpaceX generated USD 7.814 billion of second-quarter revenue, according to TS2. AI contributed USD 2.561 billion, while adjusted EBITDA for the segment reached USD 1.146 billion and operating losses totaled USD 1.257 billion.

The revenue mix gives the stock a second valuation axis beyond launch cadence. Connectivity contributed USD 4.29 billion in the quarter, while the Space segment generated USD 962 million, according to the same second-quarter report.

Starship sets the next checkpoint

SpaceX's official updates page dated September 15, 2026, says Starship Flight 14 will begin orbital missions designed to deploy Starlink V3 satellites and test orbital propellant transfer. The schedule links the next operational milestone to the valuation debate, while the September 24 share eligibility date creates a separate supply test.

SpaceX stock stood at USD 148.36 on NASDAQ on September 23, 2026, with a daily change of minus 4.11 percent. The company combines launch services, connectivity and AI operations, making revenue growth and capital intensity central measures alongside Starship execution.