{"id":64371,"date":"2026-07-07T10:38:14","date_gmt":"2026-07-07T14:38:14","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-shares-slide-amid-geopolitical-tensions-and-slowing-economic-data\/64371\/"},"modified":"2026-07-07T10:38:14","modified_gmt":"2026-07-07T14:38:14","slug":"spacex-shares-slide-amid-geopolitical-tensions-and-slowing-economic-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/spacex-shares-slide-amid-geopolitical-tensions-and-slowing-economic-data\/64371\/","title":{"rendered":"SpaceX Shares Slide Amid Geopolitical Tensions and Slowing Economic Data"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>)<\/strong> shares fell another <strong>4.59%<\/strong> to <strong>$153.05<\/strong>, extending a 30% retreat from June highs as investors brace for a massive <strong>$800 billion<\/strong> lockup expiration.<\/li>\n<li><strong>NATO<\/strong> partners finalized <strong>$50 billion<\/strong> in new defense contracts at a summit in <strong>Ankara<\/strong>, focusing on drone technology, amphibious ships, and air defense systems.<\/li>\n<li><strong>Canada\u2019s Ivey PMI<\/strong> dropped to a three-month low of <strong>56.2<\/strong> in June, missing estimates of <strong>59.1<\/strong> and signaling a cooling in the pace of economic expansion.<\/li>\n<li>Two tankers were struck by projectiles in the <strong>Strait of Hormuz<\/strong>, causing minor structural damage but no casualties, as regional tensions escalate following the death of Iran&#39;s Supreme Leader.<\/li>\n<\/ul>\n<h2>SpaceX Volatility Intensifies Post-IPO<\/h2>\n<p>SpaceX (<a href=\"\/stock\/SPCX\">SPCX<\/a>) stock continued its downward trajectory on Tuesday, falling <strong>4.59%<\/strong> to close at <strong>$153.05<\/strong>. The decline comes as the &quot;quiet period&quot; for underwriters ended, leading to a wave of mixed analyst initiations. While <strong>Goldman Sachs (<a href=\"\/stock\/GS\">GS<\/a>)<\/strong> and <strong>Morgan Stanley (<a href=\"\/stock\/MS\">MS<\/a>)<\/strong> issued bullish price targets of <strong>$205<\/strong> and <strong>$300<\/strong> respectively, others like <strong>MoffettNathanson<\/strong> initiated with a &quot;neutral&quot; rating and a <strong>$131<\/strong> target, citing the company&#39;s complex valuation.<\/p>\n<p>Investor anxiety is being driven by an impending <strong>$800 billion<\/strong> lockup expiration. Former <strong>Nasdaq<\/strong> CEO Robert Greifeld warned that the sheer volume of insider shares becoming tradeable by October is &quot;unprecedented&quot; in U.S. capital markets history. Although the company has structured the release in staggered tranches to mitigate a sudden flood of supply, the market remains wary of price-insensitive selling from early backers sitting on 20x returns.<\/p>\n<h2>NATO Secures $50 Billion Defense Package<\/h2>\n<p>At the <strong>NATO<\/strong> summit in <strong>Ankara<\/strong>, alliance members signed procurement deals valued at a minimum of <strong>$50 billion<\/strong>. The agreements are part of a broader shift toward a <strong>5% GDP<\/strong> defense spending target. Key contracts include a <strong>\u20ac35 billion<\/strong> investment in drone warfare technology and a joint <strong>\u20ac2.5 billion<\/strong> order for amphibious transport ships by the <strong>Netherlands<\/strong> and the <strong>UK<\/strong>.<\/p>\n<p>The summit also addressed the replacement of aging <strong>AWACS<\/strong> radar aircraft and the localized production of <strong>Stinger<\/strong> missiles in <strong>Germany<\/strong>. <strong>NATO<\/strong> Secretary-General Mark Rutte emphasized that these contracts are designed to &quot;deter and defend&quot; while scaling up transatlantic manufacturing capacity. The move highlights a concerted effort to modernize the alliance&#39;s &quot;crucial kit&quot; amid shifting global security threats.<\/p>\n<h2>Canadian Economic Activity Slows<\/h2>\n<p>The <strong>Ivey Purchasing Managers Index (PMI)<\/strong> for <strong>Canada<\/strong> fell to a seasonally adjusted <strong>56.2<\/strong> in June, down from <strong>58.2<\/strong> in May. This figure came in significantly below the consensus estimate of <strong>59.1<\/strong>, marking the lowest level of activity since March. Despite the dip, the reading remains above the <strong>50.0<\/strong> threshold, indicating that the Canadian economy is still expanding, albeit at a decelerating rate.<\/p>\n<p>Internal metrics of the report showed a decline in the employment gauge to <strong>53.6<\/strong> and a cooling of the prices index to <strong>73.7<\/strong>. Analysts suggest that the combination of falling employment and price measures may provide the <strong>Bank of Canada<\/strong> with more room for maneuver regarding interest rate policy. The <strong>Canadian Dollar (<a href=\"\/stock\/CAD\">CAD<\/a>)<\/strong> saw moderate pressure following the release as traders adjusted growth expectations.<\/p>\n<h2>Maritime Attacks in the Strait of Hormuz<\/h2>\n<p>The <strong>United Kingdom Maritime Trade Operations (UKMTO)<\/strong> reported two separate incidents involving tankers in the <strong>Strait of Hormuz<\/strong> on Tuesday. In the most recent attack, a tanker was hit by an unidentified drone, suffering minor structural damage. The vessel was able to continue its journey to the next port, and no casualties or environmental damage were reported.<\/p>\n<p>These incidents follow a period of heightened tension in the region after the death of Iran&#39;s Supreme Leader. Iranian state media suggested that at least one vessel was targeted after allegedly ignoring warnings. The attacks have raised concerns over the stability of global energy supply routes, as the <strong>Strait of Hormuz<\/strong> remains a critical channelling point for a fifth of the world&#39;s traded oil and natural gas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways SpaceX (SPCX) shares fell another 4.59% to $153.05, extending a 30% retreat from June highs as investors brace 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