tech
SpaceX posts first losing day as stock sinks 5%, losing momentum after a multiday rally
Elon Musk's space and AI company has seen its stock surge since its blockbuster IPO on Friday.
TL;DR
- SpaceX stock dropped 4.95% on Wednesday, ending a post-IPO rally.
- The stock had surged approximately 42% since its Friday IPO.
- SpaceX's market cap briefly exceeded Amazon and Microsoft.
- Investors are banking on Elon Musk's projection of $1 trillion revenue by 2030.
- The company posted significant net losses in 2025 and Q1 of the current year.
- Analysts question if fundamentals will match the company's valuation, noting it may take years.