$SPCX Steadies Near $156 as Bond Settlement Clears Loan Risk

NEW YORK — SpaceX moved to clear the single biggest overhang on its young stock this week, and the tape is starting to reflect it. With its record-setting bond sale settling Friday, June 26, the company is retiring the bridge loan that had weighed on sentiment since its blockbuster debut, and shares of SpaceX — NASDAQ: SPCX — are steadying after a sharp post-IPO pullback.

The Bond Deal Does the Heavy Lifting

SpaceX priced $25 billion of investment-grade notes spread across maturities from 2031 to 2056, and the order book swelled to roughly $89 billion — about 3.5 times oversubscribed, among the largest demand ever recorded for an investment-grade issue. Proceeds settling on June 26 are earmarked to pay off the $20 billion bridge loan that carried a September 2027 deadline, the very cliff that drove much of the slide from the stock's post-debut high near $225.

In other words, the structural worry that spooked equity investors is being refinanced into staggered, long-dated debt that ratings agencies have already blessed at investment grade. The contrast between bearish equity sentiment and a stampede of institutional credit demand suggested the sell-off was driven more by emotion than by fundamentals, a divergence that often resolves in the stock's favor. The strength of that demand echoed the record bond appetite that greeted the offering earlier in the week.

Where the Tape Stands

By midweek, $SPCX traded around $156.11, up from an intraday low of $147.11 on June 23 and against a previous close near $154.54, with a 52-week range of roughly $135.00 to $225.64 and a market capitalization around $2.0 trillion. Across town, $TSLA closed near $371 as traders weighed its own catalysts, leaving Musk's two public companies — Tesla and SpaceX, which now includes xAI following their merger — moving on separate but closely watched storylines. Live quotes are available on Yahoo Finance, Google Finance, WSJ, and Nasdaq.

Analysts See Room to Run

Wall Street coverage has begun to fill in, and the early targets point higher. Susquehanna initiated at neutral with a $170 price target, still implying upside of roughly 9% from current levels, while the broader analyst average sits closer to $188. SpaceX has also locked in investment-grade credit ratings, reinforcing the case that the company's balance sheet is far stronger than the recent equity wobble implied.

With the bridge-loan deadline removed and the next earnings report due in early August, the catalysts ahead look more constructive than the headlines of the past two weeks. For a stock that is barely a month old, retiring its biggest structural risk while drawing historic credit demand is a notable show of confidence, and one that could help $SPCX find firmer footing as the market digests its new place among the world's most valuable companies.

This article does not constitute financial advice. Readers are advised to do their own research before investing in the stock market. Prices cited are point-in-time snapshots and may be stale — always confirm on a live financial source.