SpaceX Loses $1 Trillion in Market Value Weeks After Record IPO
Elon Musk's SpaceX has seen its market valuation plunge by approximately one trillion dollars from its peak, just weeks after completing a record-breaking initial public offering. The stock has now fallen below its IPO price, erasing early gains for investors. Sentiment was further dampened after the company called off a recent Starship launch, raising concerns about near-term progress. Additional pressure came from approaching lock-up expiration periods, which could allow employees and early investors to sell their shares. The sharp decline marks a turbulent start to SpaceX's life as a publicly traded company.
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