SpaceX Stock Crashes Past $148: Hype Gone, Sector Weakness Dominates
SpaceX stock is in freefall, down over 30% from its June peak and now teetering on a critical $148 support level. The speculative frenzy has evaporated, replaced by a grim reality of weak sector peers and heavy short positioning. A Starlink launch did nothing to stem the bleeding, signaling the end of the IPO euphoria.
SpaceX stock is getting hammered, shedding over 30% from its June high and now staring down a make-or-break $148 level. The IPO hype has completely burned off, leaving the stock fragile. Even a fresh Starlink launch couldn't spark any buying interest, a clear sign the speculative bid is gone.
The proprietary Hype Score has cratered to 18, confirming the cooling sentiment. Volume has dried up on both sides of the tape, indicating a lack of conviction. While Chaikin Money Flow shows a slight positive bias, the price trading below its VWAP means the average buyer is underwater.
Crucially, SPCX is now moving with the broader space sector, not with Elon Musk's usual premium. Weakness in names like Rocket Lab and AST SpaceMobile is dragging SpaceX down with them. This isn't a Musk effect; it's a sector-wide slump.
Smart money is heavily short on the Hyperliquid perpetual, with whales dumping millions. This positioning, combined with dwindling options volatility, means dealer hedging could amplify further declines rather than cushion them.
The $148 Fibonacci level is the last line of defense. A break below this on an hourly close opens the door to a sharp drop towards the IPO price around $136 and potentially even lower. Buyers need to reclaim $157 to even begin easing pressure.