SpaceX’s market cap has dropped by $1.2 trillion since its June IPO, erasing gains equivalent to Tesla’s valuation.
SpaceX’s market capitalization has declined by $1.2 trillion from its peak of $2.65 trillion, reached three trading sessions after its June IPO. The drop mirrors the valuation of Elon Musk’s other public company, Tesla, highlighting post-IPO volatility in high-profile listings.
The decline follows a rapid ascent after the largest-ever IPO, with SpaceX briefly surpassing $2.65 trillion before retreating. Analysts had anticipated strong demand, but the correction reflects broader market caution toward newly public tech giants.
On Tuesday, SpaceX shares rose 2.5%, recovering slightly amid mixed trading sentiment. The Dow Jones index fell Wednesday ahead of Federal Reserve commentary, overshadowing individual stock movements.