Shares of SpaceX (SPCX), Oracle Corp. (NASDAQ: ORCL), and QuantumScape Corp. (NYSE: QS) all tumbled to fresh annual lows Thursday as broad tech market pressure combined with company-specific concerns.
SPCX stock hit an all-time low of $110.85 during the session, falling well beneath its IPO price of $135 as early enthusiasm surrounding its market debut continued to erode.
By the close, SPCX had recovered to finish up approximately 2.6%, while ORCL declined 4.61% and QS slumped nearly 13% on the day.
SpaceX has now posted losses in three consecutive weeks since its historic stock market debut, with heavy selling pressure from both institutional and retail participants weighing on the share price.
The company has reportedly stopped accepting new commercial Falcon 9 launches and rideshare missions beyond 2028, signaling a strategic shift toward its next-generation Starship rocket, according to Bloomberg.
SpaceX is also winding down production of certain Falcon 9 expendable components, while continuing to fulfill existing missions for NASA and the Pentagon.
A planned Starship launch was scrubbed due to technical glitches, with the company targeting a relaunch on July 24 from Starbase, Texas, citing poor visibility conditions on the original launch day.
The company stated: “A key objective for the flight test is to get clear imagery from the ground of Starship’s heatshield as it flies at a higher dynamic pressure during ascent, which won’t be possible with today’s weather conditions. Visibility is forecast to be ideal for a Friday attempt.”
SPCX stock is now down more than 26% since its debut, with retail sentiment on Stocktwits described as “bearish” at the time of writing.
Oracle shares reached their lowest point in more than two years, touching $119.44 intraday, as investor concerns mounted over the company’s aggressive capital expenditure plans and growing debt load.
The company has indicated plans to spend up to $95 billion in capital expenditures in fiscal 2027 and raise $40 billion through a combination of debt and equity issuance.
Those figures have fueled significant investor anxiety over rising leverage and the prospect of negative free cash flow stretching further into the future.
Higher capital expenditure announcements from Alphabet Inc. (NASDAQ: GOOGL) also deepened sector-wide concerns, as investors questioned whether surging AI infrastructure spending would ultimately translate into meaningful revenue growth.
Despite the selloff, retail sentiment on Stocktwits remained “bullish” on ORCL, driven in part by optimism over a Department of War Enterprise Software Initiative contract worth nearly $7 billion over ten years.
ORCL stock is now down more than 38% in 2026, making it one of the steeper large-cap technology declines of the year.
QuantumScape shares fell to a 52-week low of $4.97 following the release of its second-quarter results, even though the company reported a narrower-than-expected loss for the period.
The company reaffirmed its full-year adjusted EBITDA loss guidance of $250 million to $275 million, which continued to highlight persistent profitability challenges facing the solid-state battery maker.
Investor sentiment was further pressured after Volkswagen’s PowerCo reduced potential milestone payments under their collaboration agreement to $75 million, down from a prior figure of $131 million.
QuantumScape also announced plans to expand beyond electric vehicles into AI data centers, aerospace, and defense, alongside efforts to scale manufacturing and boost customer sample shipments.
QS stock is down more than 53% in 2026, though retail sentiment on Stocktwits was listed as “extremely bullish” at the time of writing, suggesting some traders view the selloff as a buying opportunity.
