economy
SpaceX stock tanks 16%, extending slump following post-IPO rally
A rally following the company's record breaking IPO on June 12 has cooled, with stock dropping the past three days of trading.
TL;DR
- SpaceX stock fell 16% on Monday, extending a decline after its IPO rally.
- The company's market cap briefly surpassed Amazon and Microsoft after its June 12 IPO.
- Shares have lost nearly 24% over the past three days of trading.
- SpaceX offered shares at $135 and announced a senior unsecured notes offering.
- The company had $100.8 billion in cash and cash equivalents as of June 19.
- SpaceX posted a $4.9 billion net loss in 2025 and a $4.28 billion loss in Q1 this year.
- The IPO made Elon Musk the world's first trillionaire.