Shares of SpaceX tumbled on Tuesday, extending a steep selloff that has erased more than one-fifth of the company’s market value since the record-setting debut of Elon Musk’s rocket, satellite and artificial intelligence company.
The stock fell 5% to $107.80 in early trading in New York at 9:36 a.m., deepening losses from the all-time high it reached just days after its market debut last month.
The latest decline comes as investors continue to pull back from riskier technology stocks, triggering a broad reassessment of high-growth companies that had previously enjoyed strong market momentum.
Since peaking on June 16, SpaceX has lost more than $1.2 trillion in market capitalisation, marking one of the largest value wipeouts in stock market history.
The company’s shares have now fallen by more than 20% from their post-listing high, reflecting weakening investor appetite for speculative technology investments amid broader market uncertainty.
Boluwatife Enome
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