SpaceX stock isn’t just falling. It’s hitting every branch on the way down. After surging to a $2.6 trillion valuation on its third day of public trading, SpaceX stock has tumbled 46%, wiping out more than $1.2 trillion of that in the process. The initial wave of selling came as investors balked at lofty valuations.
SpaceX delivered its first earnings report since going public in June, arriving at a sensitive time for the stock, which has tumbled 15% from the $135 offering price. SpaceX shares dropped 7% after hours following the earnings, which revealed better than expected revenue but AI capex higher than Wall Street estimates. While overall capex came
In the face of SpaceX’s historic IPO, the comments from skeptics were strong. Some criticized the company’s initial valuation as too high. Others opposed what they considered fantastic ideas that would take decades to realize. Another popular narrative was that retail investors, who were granted a larger share of shares than usual, would be left
