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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“But a Whimper”: Retail Euphoria in SpaceX Fizzles After Stock Loses $600 Billion in One Day
(Zero Hedge)—It started off with a bang: SpaceX IPOed on June 12 with an opening price of $150 on their first day of trade, well above the offering price of $135, and within two days, enterprising traders were ravenously bidding up 380 calls (expiring in just days) in hopes of sending the stock soaring in hopes of orchestrating a gamma squeeze. They are going for it https://t.co/tT4cJns9nv pic.twitter.com/P6NTzq4tx2 — zerohedge (@zerohedge) Jun…
A wave of profit-taking has swept through technology stocks. A prime example is the recent plunge in the share price of SpaceX, which only recently went public. Markets are now worried about further losses. By D. Landmesser.
Cathie Wood Bumps SpaceX Stake Amid Selloff as Musk Loses More Than Buffett's Net Worth Overnight
SpaceX stock crashed by over 16% on Monday and slid 4% further during Tuesday premarket hours, wiping off over $152 billion off of Elon Musk's net worth, which is equivalent to Warren Buffett's entire fortune. As of Tuesday, Buffett had a net worth of close to $150 billion, according to Forbes Real-Time Billionaires list. The crash follows a two-day rally that buoyed SpaceX market cap to $3 trillion before the steep decline of $600 billion durin…
"But A Whimper": Retail Euphoria In SpaceX Fizzles After Stock Loses $600 Billion In One Day
"But A Whimper": Retail Euphoria In SpaceX Fizzles After Stock Loses $600 Billion In One Day It started off with a bang: SpaceX IPOed on June 12 with an opening price of $150 on their first day of trade, well above the offering price of $135, and within two days, enterprising traders were ravenously bidding up 380 calls (expiring in just days) in hopes of sending the stock soaring in hopes of orchestrating a gamma squeeze. They are going for i…
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