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SpaceX shares decline 7 percent
Reports indicate that SpaceX's shares have declined by approximately 7% due to an excessively inflated market valuation following its recent gains, amid concerns that long-term growth prospects may not justify the current value. Valuations vary, with financial institutions noting that the stock price is high relative to revenues and profits, especially after the company issued new bonds and revealed cash reserves exceeding $100 billion. The company is focusing on sectors such as the Starlink satellite internet service, the private space industry, and artificial intelligence, which are considered key sources of future revenue and profits.
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