SpaceX Stock Slips Despite Massive $1.6B Space Force Deal

SpaceX shares fell to close at $112.55 on Wednesday, continuing a downward trend that began after the company hit its mid June peak. The latest slide happened even though the aerospace firm landed a new $1.6 billion order from the US Space Force for 18 Falcon 9 launches through 2027. These missions will carry satellites designed to detect and track airborne threats for the Pentagon.

Despite pulling in roughly $7 billion in military deals this year, investor sentiment remains fragile. The stock price now sits well below its $135 IPO price and far below its all time high of $225.64. Competitors like United Launch Alliance and Blue Origin continue to face technical delays, leaving SpaceX with a dominant lead in government contracts, but traders are currently ignoring the positive revenue news.

Market participants are now bracing for an upcoming share release around August 6 that could add fresh supply to the open market. Traders are also eyeing the company earnings report on August 4 for further clues on financial health. For now, short term momentum stays negative as market supply concerns outweigh major government wins.