SpaceX Stock Plummets: Musk Loses Trillionaire Status

SpaceX's stock has entered a sharp decline, experiencing a seven-day consecutive drop since its market debut last month. The stock, which initially reached $225 shortly after its IPO, now trades at a new low of $120, significantly below its $150 debut price. This substantial downturn has led to SpaceX losing $1 trillion in market value.

This performance follows several key events, including the company's acquisition of AI coding agent Cursor for $60 billion and receiving a Triple-C ESG rating from MSCI, the lowest possible score. Investor sentiment appears to be shifting, with broader concerns emerging about AI investments. SpaceX's strategy includes merging with Elon Musk's AI company, xAI, to establish space-based AI data centers.

Despite the current volatility, SpaceX remains a major U.S. company with a multi-trillion dollar valuation. Elon Musk recently issued a warning on X to investors shorting the stock, stating their survival probability is low. The company is also preparing for the 13th Starship launch, which was delayed due to engine issues and is now tentatively scheduled for this upcoming Thursday.