NewsHK
The number the market repriced was $800bn. SpaceX, the AI and space conglomerate that Elon Musk brought to Wall Street in June, shed that sum from its market value as shares fell below $135.
It is the first time the stock has traded at that level since its debut.
A listing's first real test Against the backdrop of a tightening capital environment for high-multiple growth names, SpaceX's June listing has now hit its first sustained pressure point.
The company entered public markets positioned across two sectors simultaneously, commercial rocketry and artificial intelligence, each carrying its own valuation premium and its own demand uncertainty.
Keep reading