SpaceX secondary shares fall 13% Monday, erasing over $200B valuation
SpaceX shares traded on the secondary market took a big hit on Monday, falling 13% and trading at $158, almost back to $150.
This drop erased more than $200 billion from the company's market value, just days after hitting a high of $225.
The sell-off shows investors are uneasy about SpaceX's future, even with its sky-high valuation.
SpaceX spending and profit path questioned
A lot of concern comes from SpaceX's unclear path to making money and its heavy spending habits.
Even a recent $6.3 billion deal with AI startup Reflection did not calm nerves.
Plus, Elon Musk's bold plan for space-based data centers has experts raising eyebrows about whether it can actually work or make sense financially.
Cash cushions SpaceX, investors demand clarity
On the bright side, SpaceX has cash, which gives it some breathing room for now.
Still, the stock slide signals that investors want clearer answers on how the company will turn a profit and move forward confidently.