SpaceX stock tanks 16%, extending slump following post-IPO rally
The sell-off erased more than $600 billion in value as investors weighed the company’s first bond sale and heavy borrowing plans for artificial intelligence.
- Shares of Space Exploration Technologies fell 23% over three days, erasing more than $600 billion in market value after the Elon Musk-led company announced its first bond sale to fund artificial intelligence ambitions.
- The 16% single-session drop reflects the company's thin float, which amplifies volatility; The Nasdaq fell 1.3% as investors questioned whether massive corporate spending on artificial intelligence will yield returns.
- Down from nearly $2.5 trillion a week ago, market capitalization now sits just above $2 trillion. "Anyone in the world who wanted to buy this has bought it already," said Michael O'Rourke, chief market strategist at JonesTrading.
- SpaceX is seeking to raise at least $20 billion from the bond offering as competitors Anthropic and OpenAI plan 2026 IPOs with expected valuations around $1 trillion.
- Despite the decline, SpaceX remains the world's sixth-largest company with shares still about 15 per cent higher than their $135 IPO price. Bitcoin held its ground, falling less than 1% to trade near $63,600.
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45 Articles
New York – Hasn't the entry into SpaceX paid off? The hottest stock in the world launched on June 12th and no...
On Monday, shares of SpaceX, renamed Space Exploration Technologies Corp., fell as much as 16 percent, reaching $154.60. This is the lowest level since June 12, its first day of trading. The three-day decline reached 23 percent, reducing the company's value by more than $600 during that period. Its market capitalization now stands at just over $2 trillion. The stock is currently trading 14 percent higher than its initial public offering price of…
The biggest IPO in history so far is becoming an early stress test for SpaceX. After the announcement of the first bond issue, the mood on the stock market is tilting.
BTC analysis: SpaceX’s $600 billion plunge erased nearly half of bitcoin’s market cap in three days
The newly public company shed close to half of bitcoin's entire market value in three sessions after announcing its first bond sale. Bitcoin, absorbing the same backdrop, fell less than 1%.
Business Standard
Business TimesSpaceX falls for third day, erases US$600 billion in market value
SpaceX shares slipped for a third straight day, shedding hundreds of billions of US dollars in market value, after the Elon Musk-led company said that it is selling investment-grade bonds for the first time, part of what’s expected to be a massive borrowing spree to fund its artificial-intelligence ambitions.
The height of SpaceX's share is over for the time being. The trigger is a billion-dollar bond program with which Elon Musk wants to finance his AI ambitions – to the annoyance of investors.
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