SpaceX Extends Losing Streak to Seven Days, Sinks Below Meta in Market Cap
SPCX is trading near its 52-week low of $119.68 (0.7% above the low).
Summary
SpaceX shares fell 3.3% to $119.85, marking a seventh consecutive daily decline and pushing the stock well below its $135 IPO price. The selloff has erased $1.09 trillion in market value from the June 16 peak of $2.68 trillion, with the company now valued at $1.59 trillion—slipping below Meta Platforms. The persistent weakness comes despite the recent blockbuster IPO and a $60 billion AI acquisition announcement, suggesting mounting profit-taking or growth concerns. With the stock trading near its 52-week low of $119.68, traders will watch for any stabilization or further breakdown below that level.
At the time of this announcement, SPCX was trading at $120.48 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6T. The 52-week trading range was $119.68 to $225.64. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.