SpaceX led by Elon Musk loses $400 billion in valuation
Business
SpaceX, led by Elon Musk, just saw a massive $400 billion drop in its valuation, one of the biggest single-day losses ever.
Its valuation fell 16.4% on Monday, and since the record high reached after its IPO on June 11, the company is now down more than 31%.
Yields and debt plan pressure SpaceX
Rising US bond yields and worries about interest rate hikes pushed investors out of tech stocks, hitting SpaceX especially hard. The company's valuation slid by $400 billion on Monday.
Other big names like Alphabet, Amazon, Meta, and Microsoft also lost over $500 billion combined.
Plus, SpaceX's new $20 billion debt plan and reported losses of $6.4 billion for 2025 from its AI division have analysts questioning if it can keep up its sky-high valuation.