SpaceX Stock Plummets 9% Amid Post-IPO Selloff SpaceX’s stock experienced a sharp decline on Monday, marking its third consecutive day of losses following a volatile trading period since its highly anticipated initial public offering (IPO). The company, founded by Elon Musk, had launched its public trading debut on June 12, 2026, with shares initially priced at $135. However, the euphoria of the IPO’s record-breaking debut quickly gave way to a steep correction. By the end of the week, the stock had fallen 9% on Monday, continuing a selloff that had seen shares tumble in the previous two trading days. The IPO, which raised billions in capital, initially saw SpaceX’s market capitalization surge to surpass that of Amazon and briefly overtake Microsoft before retreating. Despite the initial rally, the company’s stock faced significant pressure as investors began to reassess its valuation. The stock had dropped 5% and 3.6% on Wednesday and Thursday, respectively, before the Juneteenth holiday on Friday. While the stock remained up 37% since its debut, the rapid decline raised concerns among market participants. SpaceX’s financial disclosures added to the uncertainty. On Monday, the company announced a senior unsecured notes offering and revealed it held $100.8 billion in cash and cash equivalents as of June 19. This figure, while substantial, did not deter the selloff, as investors questioned the sustainability of the company’s growth prospects. The firm reported a $4.9 billion net loss in 2025 and lost $4.28 billion in the first quarter of 2026, highlighting its ongoing financial challenges. The IPO’s impact extended beyond the stock market. Elon Musk became the world’s first trillionaire, and thousands of new millionaires emerged from the offering.#market_capitalization #spacex #elon_musk #initial_public_offering #juneteenth_holiday
