Key Highlights

● SpaceX shares fell to $135.63 on Friday, October 30, 2026.

● Market value dropped below $2 trillion.

● The stock is more than $400 billion below its October 6 high.

● A lockup release ended restrictions on insider and early-investor sales.

SpaceX (NASDAQ:SPCX) slipped below a $2 trillion Market Value on Friday, October 30, 2026, as its shares fell to $135.63, according to market data. The decline left the company more than $400 billion below the value it reached at its Oct. 6 high, market reports said.

Friday's slide followed a lockup release, which ended restrictions that had kept insiders and early investors from selling shares after the company's initial public offering earlier this year. The stock fell below $140 in the process. Market data noted that the shares also fell sharply over the week.

From peak to pullback

The retreat from the Oct. 6 high has unfolded during a difficult stretch for growth stocks. October ended as the Nasdaq Composite's worst month since March 2025, with chip and AI stocks under particular pressure after a run of Earnings reports that raised questions about the cost of artificial intelligence.

On Friday, the Nasdaq Composite dropped 747.73 points to 25,437.00, its worst day since June. The S&P 500 lost 140.32 points to 7,580.07, the Dow Jones Industrial Average fell 572.25 points to 51,770.31 and the Russell 2000 slid 47.37 points to 2,811.84. Intel (NASDAQ:INTC)'s weak outlook and cash-burn warning set off a global chip rout, while Amazon (NASDAQ:AMZN)'s negative trailing free Cash Flow and signal of higher spending next year added to the strain.

SpaceX's ties to the AI economy give it some exposure to that theme. A brief from Market data said Anthropic is a major customer of SpaceX's compute Business and holds 90-day early-termination rights. Anthropic filed for its own Nasdaq listing on Oct. 26 under the ticker "ANT," and its debut is targeted for the week of Nov. 16, according to market data.

The most-talked-about name

SpaceX was also in the conversation for reasons beyond its stock price. Market data noted an exchange between chief executive Elon Musk and Binance co-founder Changpeng Zhao after Binance was reportedly hacked for about $6.3 billion. "Elon, have a lot of respect for you, but bad time to troll. Please stop," Zhao wrote.

The Binance episode hit crypto stocks hard, sending Bitcoin to a six-week low. There was no indication it had any bearing on SpaceX's operations.

Hawkish rates, defensive rotation

The interest-rate backdrop has made investors less willing to pay up for high-valuation companies. The Federal Reserve left its benchmark rate range unchanged at its Oct. 27-28 meeting, but Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a hike. On Friday, Dallas Fed President Lorie Logan and St. Louis Fed President Alberto Musalem argued for tighter policy, and CME FedWatch data showed traders treating a December hike as likely.

Money rotated into energy, consumer staples, utilities and health care. A senior market strategist described the shift in sentiment toward tech this week: "The love-hate relationship with tech and AI continues, and investors are becoming more discerning following earnings."

What to watch

Investors will watch how SpaceX trades as newly unlocked shares change hands, and whether the stock can stabilize after falling more than $400 billion in value from its high. Anthropic's planned listing in mid-November may keep attention on SpaceX's compute relationship with the AI company.

Next week's calendar is heavy: Apple (NASDAQ:AAPL) reports on Monday, Nov. 2, the midterm elections are Tuesday, Nov. 3, and the October jobs report arrives Friday, Nov. 6, ahead of the Fed's December meeting.