SpaceX stock falls below $150 debut price, sending market cap under $2 trillion
Investors book profits and question valuations, causing SpaceX stock to drop 23% from its peak and erasing hundreds of billions in market value.
- By Tuesday morning, SpaceX shares plunged below the $150 opening price, hitting a low of over $147 after soaring to just over $225 following its June 12 IPO.
- Shares plummeted almost 17 percent on Monday, marking the company's worst single-day performance, as a global tech sell-off swept markets amid festering fears of an AI bubble.
- SpaceX recently secured three major deals with Alphabet, Anthropic, and Reflection AI for compute capacity at its Colossus data center, generating $2.32 billion per month combined.
- One Point BFG Wealth Partners chief investment officer Peter Boockvar told CNBC last week that investors are "trading the excitement" rather than fundamentals, warning that "the rubber meets the road" when valuations align with performance.
- Long-Term growth depends on SpaceX executing its "unique ability to scale new trillion-dollar markets across space, connectivity, and AI" while targeting a $28.5 trillion total addressable market.
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The IPO of SpaceX has made Elon Musk a billionaire: But if you have bought shares of the space company after that, you have to deal with some heavy losses. What the reasons are – and how it goes on now.
SpaceX sheds $400 billion as its post-IPO hangover worsens
SpaceX’s mega post-IPO rally has hit the skids. Shares in Elon Musk’s rocket company dropped for three consecutive days after an opening boom that saw the stock climb more than 50% in its first few days of trading. That run looked set to continue at market open on Tuesday, with the stock falling 2.2% to just above $150, down more than 30% from the intraday high of $225 per share it hit last Tuesday, and erasing around $400 billion from its closi…
SpaceX stock drops Tuesday as tech stocks plunge: What could happen next.
SpaceX stock continues to tank on Tuesday. And, for the first time, the stock price for Elon Musk's space exploration company fell below its debut price.However, it's not just SpaceX stock. Tech stocks across the board are falling today. On Tuesday, SpaceX fell below $150, the price at which the stock debuted, following its IPO at $135 per share. That means any SpaceX investor who bought in after was in the red on Tuesday morning.This marks the …
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