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

According to Odaily, as investors flock to safe havens and turn away from high-risk tech companies, SpaceX (SPCX.O) shares have dropped 20% from their IPO price. The stock fell over 5% early Tuesday to around $107, extending the sharp decline from its highs in the days following last month's IPO. Its market capitalization has now evaporated by $1.2 trillion from its peak on June 16, marking one of the largest market cap losses in history.

Recently, the complex geopolitical landscape and concerns over supply-demand dynamics and valuation inflation driven by massive spending in the AI ecosystem have severely impacted many major players in the industry. SpaceX investors are also keeping an eye on the potential impact of the expiration of the lock-up period for 911.5 million shares worth $116 billion on August 6. (Jin Shi)