SpaceX Set to Wipe Out $1 Trillion in Value as Shares Slide
The stock fell below its IPO price as investors reassessed valuations and a failed Starship launch raised concerns about future supply and timing.
- On Friday, SpaceX shares tumbled, putting the rocket and artificial intelligence giant on track to wipe out more than $1 trillion in market value from its all-time high.
- SpaceX aborted a Starship launch attempt on Thursday due to an engine issue, exacerbating declines from an intraday high of $225.64 on June 16 to $124 currently.
- The company's market value dropped to $1.61 trillion after falling 6.9% on Friday, down sharply from the $2.64 trillion valuation at close on June 16.
- SpaceX CEO Elon Musk saw his net worth slide to $797 billion on Friday as investors are de-risking positions and rethinking valuations amid eroding optimism.
- An extended lock-up ends after SpaceX reports second-quarter results on August 6, potentially releasing about 1.37 billion shares, while the company has invested more than $15 billion in Starship development.
12 Articles
12 Articles
(Los Angeles=Yonhap News) Correspondent Kim Kyung-yoon = The market capitalization of U.S. aerospace and artificial intelligence (AI) company SpaceX has reached $1 trillion in just over a month, which is 1...
SpaceX shares fall! Market cap of Elon Musk-led firm set to see $1 trillion drop from all-time high
After dropping as much as 6.9% in early US trading to $122.12 per share, the stock recovered some of its losses. At that level, the company's market value stood at $1.61 trillion, down from its high of $2.64 trillion seen at the close of June 16.
The space company of multibillionaire Elon Musk has been going through a difficult pass since its record entry on the Stock Exchange
Shortly after SpaceX's IPO, the market value of the aerospace and AI company skyrocketed. Subsequently, the company lost 1 trillion dollars in...
Coverage Details
Bias Distribution
- 50% of the sources lean Left, 50% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
