SpaceX Sheds IPO Gains; Stock Tumbles 16%, Erases $600 Billion In Value

Elon Musk's net worth decreased by roughly $150 billion in one day as SpaceX shares fell 16%, closing at $154.60. This three-day slide erased hundreds of billions in market value following a record IPO. Despite these losses, SpaceX remains the sixth-largest global company, trading 15% above its IPO price. Retail investors continue buying at lower levels, while the firm aims to raise $20 billion through bond offerings to offset the recent market volatility.