SpaceX Loses Over $600 Billion in Market Value

SpaceX, which recently entered the stock market through a highly anticipated IPO, has suffered a major setback. Shares of the company owned by Elon Musk declined for a third consecutive trading session, wiping out more than $600 billion (approximately ₹52 lakh crore) from the company's market value in just three days.

On Monday, SpaceX stock fell another 16 percent to close at $154.60, marking its lowest level since the company's market debut. Over the past three trading sessions, the stock has lost a total of 23 percent. Despite the sharp decline, the company's overall market capitalization remains above $2 trillion.

According to market analysts, investor sentiment weakened after SpaceX announced plans to issue bonds to raise substantial funds for expanding its artificial intelligence initiatives. The move has sparked concerns that the company could take on additional debt, while questions remain about whether its AI investments will generate the expected returns. These concerns have increased selling pressure on the stock, contributing to the recent decline in share price.