SpaceX fell over 16% in a single day, with its market capitalization evaporating over $900 billion from its peak

Odaily Planet Daily News: At the close of trading on Monday in the US stock market, SpaceX plummeted 16.43%, breaking below its IPO first-day closing price, with its market value evaporating approximately $400 billion in a single day. This sets the record for the second-largest single-day market value loss in global corporate history.

SpaceX has now fallen for three consecutive trading days, with a cumulative decline exceeding 23%. Its market value has shrunk by over $900 billion from its peak. Currently, its stock price remains 14.5% higher than the IPO issue price of $135, with a total market capitalization of approximately $2.03 trillion.

Previously, SpaceX planned to raise at least $20 billion through its inaugural bond issuance to support the expansion of its AI business. In February of this year, SpaceX completed the acquisition of Musk's xAI, integrating the 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 debt levels of most current US-listed companies.