Stack Capital’s shares retreated to 25.02 Canadian dollars despite the firm holding an $8 million position in the aerospace giant. The firm had previously disclosed an additional $3 million investment in the second quarter of 2025, back when SpaceX carried a valuation of approximately $400 billion. The disconnect between the two companies highlights the complex nature of Stack’s broader portfolio, which relies on a mix of high-growth tech ventures including OpenAI, Crusoe Energy, X-Energy, and the travel platform Hopper.
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Stack Capital Shares Slide Despite SpaceX IPO Surge
While SpaceX shares skyrocketed 28% during their public market debut Friday, the Canadian investment firm Stack Capital Group saw its own stock drop 15%. Investors appeared to look past the rocket maker’s massive valuation jump, which pushed SpaceX to a market capitalization of nearly $1.94 trillion.
Despite the single-day decline, Stack Capital’s performance remains robust over a longer horizon. The firm has seen its stock price double over the last 52 weeks and climb roughly 62% year to date. As of May, the company reported a book value totaling C$227 million, leaving shareholders to weigh the sudden market volatility against the firm's significant exposure to the artificial intelligence and energy infrastructure sectors.
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