SpaceX stock falls below $150 debut price, sending market cap under $2 trillion
The stock fell 16% on Monday and another 4% in premarket trading as investors questioned tech valuations after the debut rally faded.
- SpaceX's stock price fell below its debut price of $150, causing its market capitalization to drop under $2 trillion following a significant selloff.
- SpaceX's shares rose more than 50% after its IPO on June 12, briefly surpassing Amazon and Microsoft in market value before declining.
- Shares decreased over several days with a total selloff of around $400 billion, including a 16% drop on Monday.
- SpaceX announced a senior unsecured notes offering, reported $100.8 billion in cash reserves, and signed a computing agreement with AI startup Reflection.
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The wave of enthusiasm that in recent months has pushed the titles related to artificial intelligence to the highest historical levels leaves room for the fears of a correction. Or even the burst of the bubble. World grants have been overwhelmed by sales, started from Asia and arrived at Europe and the United States, in what appears to be the first real global shock to the rally of the AI. The epicenter of the correction was South Korea where th…
SpaceX extends losses after $600 billion wipeout, tech stocks slide again
Shares of Elon Musk's SpaceX slipped further following a three-session selloff that wiped out more than $600 billion from the company's market value, with the highly valued technology sector on track to extend the rout.
SpaceX stock down by 16%: Will your mutual fund investments take a hit?
SpaceX is experiencing a fourth day of stock losses amid a tech sell-off, dropping about 3% to $150. This follows a record $75 billion IPO last week, with investors concerned about AI enthusiasm. SpaceX has lost over $600 billion in value since the decline began.
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