SpaceX ($SPCXB ) crashed so badly today 💔

$SPCX closed down 16.4% today, wiping out more than $400 billion in market capitalization.

The selloff comes just days after the company launched its first offering of senior unsecured notes, seeking to raise at least $20 billion despite reporting roughly $100.8 billion in cash and cash equivalents.

The bigger picture is even more dramatic

$SPCX is now down 31.3% from its all-time high

More than $927 billion in market value has been erased in just 3 trading days

The stock remains 14.5% above its IPO price

Just a week ago, investors were chasing the stock higher on AI and space hype.

Now the market is asking a different question:

Was the valuation simply too far ahead of reality?

Short 👇

SPCXUSDT

Perp

160.2

-3.31%