A third straight day of selling has wiped out over $600 billion in SpaceX’s value, and the rocket-and-AI giant is now staring down a drop below the $2 trillion line.
SpaceX shares kept sliding in premarket trading Tuesday, a day after the company logged the second-largest single-day market cap loss ever recorded. The stock briefly touched $147, dipping under its $150 debut price.
Key Details
Monday’s session alone erased roughly $400 billion, trailing only Nvidia’s $590 billion plunge last year. Over three days, SpaceX has now shed more than $600 billion in value. The drop comes even as the company moves to raise at least $20 billion through investment-grade bonds, the first leg of what’s expected to be a much bigger borrowing push to fund its AI buildout. SpaceX also struck a multibillion-dollar computing deal with Reflection AI this week.
Market Reaction
The selloff isn’t isolated. Nasdaq 100 futures slipped as tech stocks broadly retreated, with Oracle, Alphabet, and Nvidia all trading lower alongside SpaceX.
Why It Matters
SpaceX joins Alphabet, Amazon, Meta, and Oracle in tapping debt markets to bankroll AI infrastructure, a trend reshaping how megacap tech funds its next phase of growth. For traders, that means watching bond issuance just as closely as earnings, since heavy borrowing can pressure both credit spreads and equity sentiment at once.
Despite the rout, SpaceX shares remain about 10% above their $135 IPO price. The next signal to watch: how the bond sale prices, and whether tech’s broader pullback stabilizes or drags SpaceX further from the $2 trillion mark.
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Source: Yahoo Finance
