{"id":720230,"date":"2026-06-23T01:13:17","date_gmt":"2026-06-23T01:13:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/720230\/"},"modified":"2026-06-23T01:13:17","modified_gmt":"2026-06-23T01:13:17","slug":"spacex-tumbles-23-from-its-high-as-investors-see-gains-wiped-out","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/720230\/","title":{"rendered":"SpaceX tumbles 23% from its high as investors see gains wiped out"},"content":{"rendered":"

Shares of Elon Musk\u2019s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of its massive initial public offering. <\/p>\n

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It was the third straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever. <\/p>\n

At Monday\u2019s closing price of $154.60, average investors who bought SpaceX shares on the open market after its debut have now seen most of their gains disappear, market data shows. <\/p>\n

Shares closed at $160.90 on June 12, the day the stock began trading on the Nasdaq exchange. On June 16, they hit a high of $201.80 per share.<\/p>\n

When trading ended Monday afternoon, the shares were down about 23% from their peak a week earlier.<\/p>\n

The company itself \u2014 and holders of its previously privately held shares<\/a> \u2014 made more than $85 billion in the initial public offering. And with a market cap of about $2 trillion, SpaceX remains more valuable than either Walmart or Facebook parent Meta.<\/p>\n

SpaceX\u2019s sell-off came amid a broader market drawdown Monday in which shares of Google parent, Alphabet, notched their worst one-day performance in over a year.<\/p>\n

The broad S&P 500 index closed down 0.43%, while the tech-heavy Nasdaq fell 1.3%. <\/p>\n

Oil prices declined Monday<\/a> to lows not seen since March amid progress in talks between the U.S. and Iran. <\/p>\n

But that was little comfort to tech investors, who are concerned that short-term inflation will increase the debt burden of mega-cap companies that have borrowed large amounts of money to fund their artificial intelligence infrastructure. <\/p>\n

Bloomberg News reported Monday that SpaceX was looking to raise at least $20 billion through a bond sale. <\/p>\n

The move spooked investors who are \u201cwary of the substantial cash required to fund technological ambitions,\u201d Jose Torres, a senior economist at Interactive Brokers financial group, said in a note to clients Monday afternoon. <\/p>\n

A host of consumer-focused stocks also declined significantly Monday, including Amazon, Chipotle, McDonald\u2019s, Home Depot and Netflix.<\/p>\n","protected":false},"excerpt":{"rendered":"Shares of Elon Musk\u2019s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12,…\n","protected":false},"author":2,"featured_media":720231,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28],"class_list":["post-720230","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/720230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=720230"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/720230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/720231"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=720230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=720230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=720230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}