PREVIEW

SpaceX Shares Slide as IPO Excitement Begins to Cool. Shares of SpaceX fell more than 6% on Thursday, signaling that the intense excitement surrounding the company’s historic stock market debut may be starting to fade. Despite the decline, the stock remains more than 30% above its initial public offering price, giving the company a market value of roughly $2.5 trillion. Analysts say the pullback is not unexpected after SpaceX’s strong post-IPO rally, which briefly made it one of the world’s most valuable companies. Other space-related stocks also moved lower as investors reassessed valuations across the sector. The company is still pushing ahead with ambitious expansion plans, including a $60 billion stock acquisition of AI startup Anysphere, the creator of the coding assistant Cursor. SpaceX is also reportedly preparing a bond offering worth at least $20 billion to help fund its growing artificial intelligence strategy. Investors are now weighing whether the company’s massive valuation can be justified by its future growth prospects.
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