Why Did SPCX, IBM, BSX Drop To 52-Week Lows Today?

• SPCX stock fell below its IPO price amid profit-taking, cooling investor sentiment, and broader market concerns over AI spending. 
• IBM stock slumped 2.7% amid price target cuts after its preliminary second-quarter results revealed revenue well short of analysts’ expectations. 
• BSX stock recovered, closing up about 1% after slumping to an annual low amid Wall Street concerns about a mixed setup for the MedTech sector.

Shares of SpaceX (SPCX), International Business Machines Corp. (IBM), and Boston Scientific Corp. (BSX) slumped to 52-week lows on Wednesday as profit-taking, weak outlook, and Wall Street concerns resulted in a selloff in the stocks. 

SPCX stock closed 0.6% lower amid profit-taking, cooling investor sentiment, and broader market concerns over AI spending. 

IBM stock slumped 2.7% amid price target cuts following its preliminary second-quarter results, which showed revenue well short of analysts’ expectations. 

BSX stock recovered, closing up about 1% after slumping to an annual low amid Wall Street concerns over a mixed sector setup. 

SpaceX Dips Below IPO Price 

SPCX stock fell to an all-time low of $132.15, dipping below its IPO price of $135. Elon Musk’s aerospace company, which made its historic debut on Wall Street last month, declined for a fourth-straight session as the initial post-IPO hype is cooling off. 

The stock has experienced heavy selling following its aggressive capital-raising plans and a limited public float, which has amplified market volatility.

SpaceX is preparing for the 13th test flight of Starship, its next-generation fully reusable rocket designed to significantly reduce the cost of space travel while greatly expanding payload capacity. 

Unlike the partially reusable Falcon 9, which can carry about 25,000 kilograms to orbit at roughly $1,500 per kilogram, Starship is being developed to transport up to 150,000 kilograms at a fraction of that cost. Lower launch costs could unlock new opportunities, including large-scale orbital infrastructure, such as AI-powered data centers in space, according to a Barron’s report.

Meanwhile, Piper Sandler initiated coverage of SpaceX with a ‘Neutral’ rating and $156 price target, as per TheFly. 

SPCX stock is down nearly 16% since its debut, with retail sentiment on Stocktwits ‘bearish’ at the time of writing. 

IBM Garners Price Target Cuts Amid Lower Q2 Expectations 

IB stock slipped to an annual low of $211.03 and is on track for its steepest weekly decline on record after the company’s preliminary second-quarter results showed revenue of $17.2 billion, below Wall Street expectations. 

CEO Arvind Krishna said on Monday that the miss was largely due to the company’s infrastructure division, where sales fell 7% as clients pulled back or delayed IT and data center spending amid rising cybersecurity concerns. 

On Wednesday, Bank of America (BAC) lowered its price target on IBM to $280 from $330 and kept a ‘Buy’ rating on the shares after the company reported a miss on preliminary Q2 revenue and earnings, as per TheFly. The analyst said that while it was "surprised by the magnitude" of the topline miss, it noted that both software and infrastructure significantly missed estimates. 

Meanwhile, Oppenheimer downgraded IBM to ‘Perform’ from ‘Outperform’ and removed its price target following the Q2 results miss. The firm believes it will be difficult for IBM to meet its full-year outlook or get double-digit software growth for 2026 and 2027. 

IBM stock is down more than 27% so far this year, with retail sentiment on Stocktwits in the ‘extremely bullish’ territory at the time of writing. 

Boston Scientific Dips On Broader MedTech Industry Weakness

BSX stock fell to a 52-week low of $42.20 on Wednesday before recovering to close green. The company has been pressured by a weakness in the broader medical technology industry. 

Mizuho analyst Anthony Petrone lowered the price target on the company to $70 from $90 and maintained an ‘Outperform’ rating on the shares, noting that the firm sees a "mixed setup" for the sector, according to The Fly. 

Earlier in the week, RBC Capital analyst Shagun Singh lowered the price target on BSX stock to $85 from $100 and kept an ‘Outperform’ rating on the shares as part of a broader Q2 preview of the MedTech industry. 

The research firm said that its extensive discussions with key opinion leaders during the quarter continue to suggest a stable procedure-volume backdrop, steady demand for medical-device capital, and healthy end-market demand, with no structural deterioration in sight. However, for the company in particular, sentiment is cautious for the rest of the year, as economic headwinds are expected to persist amid a ramp-up in competition. 

BSX stock has declined more than 54% so far this year, with sentiment on the shares at ‘neutral’ on Stocktwits. 

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