SpaceX one-day wipeout $400B
SpaceX shed $400 billion in market cap in a single day, the second largest one-day wipeout in stock market history.
Snapshot · The Prof G Pod with Scott Galloway
What SpaceX's IPO Means for Tech Stocks, and Coping With Panic Attacks
Explore episode
Jul 13, 2026
Where this was said
SpaceX IPO: The Numbers Behind the Chaos
At 1:45 · chapter starts 1:22
Galloway methodically walks through SpaceX's IPO numbers, noting the stock priced at $135, opened at $150, and peaked somewhere between $210 and $230 — implying a $2.8 trillion market cap that briefly made it one of the most valuable companies ever listed. The fall from grace came fast: a single trading day saw $400 billion evaporate, the second-largest one-day market cap wipeout in stock market history [1] — Scott Galloway "SpaceX shed $400 billion in a single trading day — the second-largest one-day market cap wipeout in history. Yet it still trades above its …" 01:22 . By June 26th, shares had settled at $153, with the company's value reduced to about $2 trillion and the stock sitting more than 30% below its peak. Galloway's verdict is calibrated: 'still an enormous success story' because the base was so astronomical. The key contextual point he makes is that the magnitude of dollar losses is a direct function of the magnitude of gains — SpaceX lost $600 billion precisely because it had a $2.5 trillion market cap to begin with. This framing sets up his broader thesis about whether IPO investors and underwriters will grow more cautious.
SpaceX peak market cap
SpaceX reached a $2.8 trillion market cap after its IPO, making it one of the most valuable companies ever listed.
SpaceX's $400B Single-Day Wipeout — And Why It's Still a Success
SpaceX shed $400 billion in a single trading day — the second-largest one-day market cap wipeout in history. Yet it still trades above its $135 IPO price, making it an undeniable success story despite the carnage.
SpaceX shares down 30%+ from peak
SpaceX shares remained more than 30% below their peak by Friday June 26th, though still above the IPO price.
IPO as a Branding Event: How Banks Engineer the Pop
Modern investment banks are engineers, not bankers. They manufacture scarcity around IPOs to guarantee a 20% first-day pop — Galloway predicted SpaceX's pop at 20% and it came in at 21-23%.
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