SpaceX market value plunged over $600 billion in two days, erasing nearly 16% since its IPO earlier this month.
SpaceX Corp (NASDAQ:SPCX) shares climbed 2.5% on Tuesday, recouping part of a two-day selloff that erased more than $600 billion in market value. The rebound follows a 15.8% decline since the company’s IPO, pushing shares below the $150 first-day opening price and threatening a drop below $2 trillion market capitalization.
Monday alone saw a $400 billion loss, the second-largest single-session decline on record after Nvidia’s $590 billion plunge last year. Shares remain roughly 10% above the $135 IPO price despite the turbulence, which analysts called one of the most dramatic reversals in a newly listed mega-cap stock.
The selloff dragged the broader technology sector lower, marking a sharp reversal from the company’s post-IPO peak.