SpaceX Shares Fall 6.9%, Erasing $1 Trillion
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- SpaceX shares tumbled as much as 6.9% to $122.12 per share on Friday before paring losses later in the session
- At the intraday low, the drop gave SpaceX a market value of $1.61 trillion, down from $2.64 trillion at the close on June 16 — its third day of public trading
- The decline puts SpaceX on track to wipe out more than $1 trillion in market value from its all-time high, with the $2.64 trillion June 16 figure implying a peak-to-current loss of roughly $1.03 trillion
Why it matters: SpaceX's market cap has fallen from $2.64 trillion at its June 16 close — just its third day of public trading — to $1.61 trillion at Friday's intraday low, erasing roughly $1.03 trillion in roughly one month. That pace of value destruction, with the peak reached on only the third trading day, means the entire post-IPO surge has already been surrendered to sellers.
