SpaceX Rebounds After Erasing 20% Post-IPO
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- SpaceX shares bounced back after temporarily erasing 20% of their value from the company's record-setting IPO debut, as investors rotated away from riskier technology firms.
- Earlier in the session, the stock had slumped to push market value more than $1.2 trillion below its June 16 peak — described by the source as one of the largest market-cap wipeouts in history.
- Shares ended Tuesday at $116.49 each, down nearly 14% from the initial public offering price.
- The decline marks a sharp reversal for Elon Musk's rocket, satellite and AI company, which had hit its post-IPO high on June 16 before the steep sell-off.
Why it matters: SpaceX ended Tuesday valued more than $1.2 trillion below its June 16 peak — which the source calls one of the largest market-cap wipeouts in history — with shares still trading nearly 14% below the IPO price. For newly public, high-valuation tech names, the scale of this single-day reversal quantifies just how aggressively investors are pulling back from risk.
