--- title: "SpaceX Stock May Be Down 51%, But It's Still Outperforming These 2 Other Recent IPOs" type: "News" locale: "en" url: "https://longbridge.com/en/news/294605815.md" description: "SpaceX stock has dropped over 51% from its highs but still outperforms recent nuclear IPOs X-Energy and Standard Nuclear. While small modular reactor stocks have suffered significant declines due to implementation delays, the article suggests all these speculative IPOs are currently overpriced. Although Standard Nuclear appears least overvalued based on its business model and backlog, the author advises risk-averse investors to wait for more earnings data before buying." datetime: "2026-08-02T11:51:56.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294605815.md) - [en](https://longbridge.com/en/news/294605815.md) - [zh-HK](https://longbridge.com/zh-HK/news/294605815.md) --- # SpaceX Stock May Be Down 51%, But It's Still Outperforming These 2 Other Recent IPOs It's been nearly two months since Elon Musk's **Space Exploration Technologies Corp.** (SPCX \-3.41%), commonly known as SpaceX, went public. Despite an initial surge in interest (and share price), the stock has badly underperformed the market. Shares of SpaceX stock are down more than 51% from their highs. However, two other high-tech stocks made their market debuts around the same time as SpaceX, and they've actually fared just as badly. Here's why SpaceX, despite being down 51%, managed to outperform recent nuclear IPO **X-Energy** (XE \-4.34%) (down almost 55%) and is only doing a bit worse than **Standard Nuclear** (STDN +3.82%) (down 45.5%). Let's also look at which stock is likeliest to recover. ![A SpaceX Falcon Heavy rocket launches with a plume of orange smoke.](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84ODEzNDYvZ2V0dHlpbWFnZXMtMjE2MzAwMjU4Mi0xMjAxeDY3MS02YWY3YTU1LTIuanBnJnc9Mzg0MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) Image source: Getty Images. ## Times are tough all over SpaceX is outperforming most of the small modular reactor (SMR) nuclear industry. SMR stocks had a fantastic 2025. They soared to massive valuations thanks to President Donald Trump's new nuclear-friendly policies. But new ideas -- especially those involving radioactive material -- take time to implement. Even with the Trump administration's Department of Energy (DOE) prioritizing the deployment of new reactors, most SMR companies aren't even in the prototype testing phase for their revolutionary reactor designs. Shares of SMR companies **Nano Nuclear Energy** (NNE \-4.62%), **Oklo** (OKLO \-5.50%), and **NuScale Power** (SMR \-2.09%) are down 74%, 80%, and 85%, respectively, from their early October highs. The more recent nuclear IPOs have fared much better, with X-Energy down "only" 54.7% and Standard Nuclear down "just" 45.3%. So, are the recent IPOs better buys? Expand ![Space Exploration Technologies Stock Quote](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1NQQ1gucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ## NASDAQ: SPCX Space Exploration Technologies Today's Change (-3.41%) $-3.83 Current Price $108.37 ### Key Data Points Market Cap $1.4TMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary. Day's Range $107.57 - $113.64 52wk Range $107.01 - $225.64 Volume 58.8M Avg Vol 115.3M ## The new shiny stock It's possible that the new IPOs simply haven't had as much time to drop as the more established stocks. If we measure all these stocks' performances from SpaceX's IPO date of June 12, SpaceX actually goes from being the best performer to almost the worst. All of these stocks are dependent on the success of an emerging industry -- routine spaceflight, SMR-based power plants, orbital AI data centers -- that will take time to develop. Success will be measured in years, not weeks, and it's definitely not a guarantee. That makes it tough to pick a potential winner. All of these stocks seem overpriced given how speculative they are. Plus, it's not usually a good idea to buy a recent IPO until it releases at least a few quarters' worth of earnings reports to inform your thesis. Risk-averse investors should steer clear of them all. But if I had to buy one of these new IPOs, I'd probably go with Standard Nuclear. Expand ![Standard Nuclear Stock Quote](https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vYXJ0L2NvbXBhbnlsb2dvcy9tYXJrL1NURE4ucG5nJnc9MTI4?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ## NYSE: STDN Standard Nuclear Today's Change (3.82%) $0.29 Current Price $7.89 ### Key Data Points Market Cap $1.3BMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary. Day's Range $7.35 - $8.14 52wk Range $7.05 - $15.00 Volume 590.4K Avg Vol 1.6M Its current market cap of $1.2 billion seems the least overpriced, given its proposed business model of enriching nuclear fuels for SMR companies. Management claims $245 million in (mostly unfunded) backlog and a (non-binding) deal with Oklo to provide fuel, as well as $124.9 million in cash on the balance sheet. Plus, it's been working with the DOE on various projects, including the well-funded Prometheus project. That said, the smartest move for investors right now is probably just to wait. ### Related Stocks - [XE.US](https://longbridge.com/en/quote/XE.US.md) - [STDN.US](https://longbridge.com/en/quote/STDN.US.md) - [SPCX.US](https://longbridge.com/en/quote/SPCX.US.md) - [SPCH.US](https://longbridge.com/en/quote/SPCH.US.md) - [SPCF.US](https://longbridge.com/en/quote/SPCF.US.md) - [SPAL.US](https://longbridge.com/en/quote/SPAL.US.md) - [SNK.US](https://longbridge.com/en/quote/SNK.US.md) - [SSPC.US](https://longbridge.com/en/quote/SSPC.US.md) - [SPCU.US](https://longbridge.com/en/quote/SPCU.US.md) - [LOFF.US](https://longbridge.com/en/quote/LOFF.US.md) - [NNE.US](https://longbridge.com/en/quote/NNE.US.md) - [OKLO.US](https://longbridge.com/en/quote/OKLO.US.md) - [SMR.US](https://longbridge.com/en/quote/SMR.US.md) ## Related News & Research - [SpaceX Adds New Satellite Customer With 2027 VinSpace Launch Deal](https://longbridge.com/en/news/296250094.md) - [Where Will SpaceX Stock Be in One Year? Morgan Stanley Weighs In](https://longbridge.com/en/news/296032718.md) - [SpaceX issues 389,289,254 Class A shares in unregistered sale tied to Cursor merger](https://longbridge.com/en/news/295934385.md) - [SpaceX (SPCX) Stock: Australia's Richest Person Makes $1.37 Billion Bet](https://longbridge.com/en/news/295958310.md) - [Alphabet's SpaceX bet grows 100-fold over a decade to $94 billion](https://longbridge.com/en/news/295915905.md)