SpaceX stock drops after surge

SpaceX's stock significantly declined a week after its initial public offering, losing around $600 billion in market value over three days. The stock had surged by 67%, reaching a peak of $225.64, then fell to $154.60, recording its lowest closing price since listing, with its market capitalization dropping from $2.6 trillion to approximately $1 trillion. Despite the decline, the company's stock still trades above the $135 debut price, and its valuations remain notably high, relying on long-term forecasts to achieve ambitious goals in areas like Mars colonization and artificial intelligence.

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