SpaceX has fallen 20% from its IPO price, with its market cap evaporating by $1.2 trillion from its peak

Odaily reported that as investors turn risk-averse and retreat from high-risk tech stocks, SpaceX (SPCX.O) has dropped 20% from its IPO price. The stock fell over 5% in early trading Tuesday to around $107, extending a sharp decline from its post-IPO highs within days of last month's listing. Its market capitalization has now shrunk by $1.2 trillion from its peak on June 16, marking one of the largest market value losses in history.

Recently, complex geopolitical tensions and concerns over supply-demand imbalances and valuation inflation driven by massive spending in the AI ecosystem have weighed heavily on many major players in the industry. SpaceX investors are also eyeing the potential impact of the expiration of a lock-up period on August 6, involving 911.5 million shares worth $116 billion. (Jinshi)