On June 12, 2026, a billboard in New York's Times Square celebrated the completion of SpaceX's IPO and its listing on the Nasdaq.

In early trading on Tuesday, shares of SpaceX surged nearly 6%, putting an end to a seven-session consecutive decline. This move followed an analysis from Macquarie, which maintained its "outperform" rating and suggested investors consider buying on dips.

The stock price climbed to around $125. Despite this rebound, the share price remains below its IPO issue price of $135, following a significant pullback since its market debut.

Macquarie indicated that the recent decline presented a buying opportunity, arguing that investors continue to undervalue the company's long-term growth potential in artificial intelligence, beyond its core aerospace operations.

The analysts wrote in their report, "The AI business holds substantial upside potential; even achieving a fraction of the long-term computing power goals would be sufficient to support a valuation higher than current levels."

Prior to this rebound, the broader high-growth technology sector faced pressure, coupled with persistent short-selling activity, which led to a severe sell-off in SpaceX. The stock price had fallen below its issue price at one point. Even with Tuesday's gains, the share price remains well below the highs reached shortly after its initial public offering.