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SpaceX Stock Plummets 16% Post-IPO
23 Jun
Summary
- SpaceX shares dropped 16% on Monday, below IPO price.
- The company's IPO was the largest in history just 10 days ago.
- Investors worry about inflation impacting mega-cap tech debt.
Shares of Elon Musk's SpaceX saw a sharp 16% drop on Monday, closing below their debut price from June 12. This marks the third consecutive trading day of declines for the company, which recently conducted the largest IPO ever. Average investors who bought shares post-IPO have seen their gains significantly diminish. The stock is now down approximately 23% from its peak the previous week.
This sell-off coincides with a wider market downturn, affecting other major tech companies. Investors are reportedly wary due to concerns about short-term inflation increasing debt burdens for mega-cap companies that have borrowed heavily for AI infrastructure. Adding to investor jitเฉพาะtivity, SpaceX is rumored to be planning a substantial bond sale, seeking at least $20 billion, which has heightened concerns about funding technological ambitions.
