$400.8B Market Cap Drop Hits SpaceX; Company Prices $25B Inaugural Bond
SPCX is trading near its 52-week low of $147.11 (6.7% above the low).
Summary
SpaceX's market capitalization plunged by $400.8 billion to roughly $2.04 trillion, marking the second-largest single-day market-cap drop for a U.S. company. This follows a period of rapid post-IPO valuation increases, which saw the company's market cap briefly approach $3 trillion after its Nasdaq debut on June 12th. The company also priced a $25 billion inaugural bond offering, receiving investment-grade ratings of BBB+/Baa1 from Fitch and Moody's. While the bond provides significant capital, the article notes that large debt and ongoing heavy losses from xAI could weigh on finances. The bond is set to settle on June 26, 2026.
At the time of this announcement, SPCX was trading at $156.95 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.1T. The 52-week trading range was $147.11 to $225.64. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.