SpaceX drops over 16% in a single day, market cap evaporates over $900 billion from peak

Odaily Odaily reports that U.S. stocks closed lower on Monday, with SpaceX plummeting 16.43%, falling below its IPO first-day closing price. The single-day market cap evaporated by approximately $400 billion, setting the second-largest single-day market value loss record in global corporate history.

SpaceX has now fallen for three consecutive trading days, with cumulative losses exceeding 23%, and its market cap has shrunk by over $900 billion from its peak. Currently, its stock price remains 14.5% above the IPO price of $135, with a total market cap of approximately $2.03 trillion.

Previously, SpaceX planned to raise at least $20 billion through its inaugural bond issuance to support its AI business expansion. In February of this year, SpaceX completed the acquisition of Musk's xAI, integrating AI business into its core strategy. Oppenheimer analyst Timothy Horan expects SpaceX's net debt to increase by over $400 billion by 2031, far exceeding the current debt levels of most listed companies in the United States.