SpaceX stock falls 16%
Shares of SpaceX dropped by 16.43% to reach $154.60 after a decline over the past three days, following a significant jump during the first two days of its listing on NASDAQ. While the company had recently achieved a market value that surpassed tech giants like Amazon and Microsoft, the stock experienced a decline due to profit-taking and the liquidation of financial positions, despite the company's announcement of a large bond issuance and its strong cash holdings totaling $100.8 billion. This decline comes even as investors continue to bet on Elon Musk’s potential to generate long-term returns, especially considering the company reported a net loss of $4.9 billion last year and additional losses in the first quarter of this year.
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