Key Highlights

● SpaceX closed at $135.63 on Friday, October 30, 2026, after a lockup release.

● Market value fell under $2 trillion.

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

● Anthropic is reportedly a major customer of its compute business.

Shares of SpaceX (NASDAQ:SPCX) fell below $140 on Friday, October 30, 2026, closing at $135.63, according to market data, after a lockup release hit the stock. Lockup releases end the period after an initial public offering during which insiders and early investors are barred from selling, and they can add to the Supply of shares available to trade.

The decline left the rocket and satellite company's Market Value under $2 trillion, more than $400 billion below its Oct. 6 high, according to market data. Reports differed somewhat on the size of Friday's drop, but all showed a clear decline, and market data noted that the stock also fell sharply for the week.

A crowded set of headwinds

The lockup release came on one of the roughest days of the year for growth stocks. The Nasdaq Composite fell 747.73 points to 25,437.00, its worst day since June, after Intel (NASDAQ:INTC)'s weak fourth-quarter outlook and cash-burn warning triggered a global selloff in chip and AI stocks. Amazon (NASDAQ:AMZN)'s results, which showed negative trailing free Cash Flow and signaled higher Capital spending next year, added to concerns about the cost of the AI build-out.

The S&P 500 lost 140.32 points to 7,580.07, the Dow Jones Industrial Average dropped 572.25 points to 51,770.31 and the Russell 2000 fell 47.37 points to 2,811.84. The Philadelphia Semiconductor index slid to 10,688.80.

SpaceX also has exposure to the AI theme through its compute business. A brief from Market data said Anthropic is a major customer of that Business and holds 90-day early-termination rights. Anthropic itself filed for an initial public offering on Monday, Oct. 26, seeking a Nasdaq listing under the ticker "ANT," with a debut targeted for the week of Nov. 16, according to market data.

Musk and the Binance spat

Elon Musk, SpaceX's chief executive, drew attention on a separate front. Market data noted an exchange between Musk and Binance co-founder Changpeng Zhao after Binance was reportedly hacked for about $6.3 billion. Zhao wrote: "Elon, have a lot of respect for you, but bad time to troll. Please stop,". There was no indication the exchange affected SpaceX's business.

The reported Binance hack weighed heavily on crypto stocks, with Bitcoin falling to a six-week low and shares of Coinbase (NASDAQ:COIN), Strategy and bitcoin miners sliding.

Rates and rotation

The macro backdrop also worked against high-valuation stocks. 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, and three Fed officials argued on Friday that rates need to move higher. St. Louis Fed President Alberto Musalem said: "I judge that additional firming of Monetary Policy will be necessary, and soon."

Investors rotated toward energy, consumer staples, utilities and health care. Oil stayed above $100 a barrel amid tensions around Iran and the Strait of Hormuz, with West Texas Intermediate crude rising $2.12 to $104.12.

A senior market analyst summed up the mood around big technology names: "The message from investors is becoming clearer: strong AI Demand is no longer enough on its own."

What to watch

Investors will watch how the newly unlocked shares trade in the coming sessions and whether selling pressure eases after the initial release. Anthropic's IPO, targeted for the week of Nov. 16, could also draw attention to SpaceX's compute relationship with the AI developer.

On the broader calendar, Apple (NASDAQ:AAPL) reports results on Monday, Nov. 2, the midterm elections take place Tuesday, Nov. 3, and the October jobs report arrives Friday, Nov. 6, ahead of the Fed's December meeting.