SpaceX Shares Slide 7% to $178, Erasing $600 Billion Market Value
SpaceX shares slid 7% Thursday to $178, trading near their volume-weighted average price of $180 after investors reassessed the stock post-IPO euphoria. The plunge erased $600 billion in market value after the Cursor acquisition, and reports of a multibillion-dollar debt offering to fund AI expansion spooked shareholders.
1. Stock Performance Decline
SpaceX shares fell as much as 7% on Thursday to $178, leaving trading near the volume-weighted average price of $180 established over the first two sessions post-IPO. This slide marks a sharp reversal from the initial euphoria that pushed the shares well above their opening price.
2. Market Capitalization Shift
The rapid decline wiped out approximately $600 billion in market value following the company’s acquisition of Cursor, which had initially fueled expectations for accelerated growth. Investors are now scrutinizing whether the deal’s benefits justify the elevated valuation.
3. AI Expansion and Financing Plans
Reports of a potential multibillion-dollar debt offering to support SpaceX’s artificial intelligence expansion added to the sell-off pressure. Shareholders are concerned about the impact of increased leverage and the costs associated with scaling AI infrastructure.
