SpaceX shares plunged for a third consecutive session on Monday, closing at $154.63 — down roughly 16% in a single day — and erasing more than $600 billion in market capitalization in just three trading days. The stock is now approaching its opening-day price of $150 from the company’s IPO, nearly wiping out all post-listing gains.
The sell-off comes at an awkward moment: SpaceX is in the process of issuing its first-ever corporate bond. While shares remain above the $135 IPO offer price, the velocity of the decline has rattled investors and raised questions about whether the company’s sky-high valuation was ever grounded in reality. The rout is a stark reminder that even the most hyped tech names are not immune to market gravity. [3]
