$620 billion erased in 48 hours.
That's how much value SpaceX ($SPCXB ) has lost over the past two days.
The stock is now down 18% from its post-IPO high and trading close to the average investor's cost basis after falling from above $225 to under $185.
The biggest trigger was SpaceX's proposed $60 billion all-stock acquisition of Anysphere, the company behind AI coding assistant Cursor.
Because the deal is being paid with stock instead of cash, it would dilute existing shareholders by roughly 3.4%, sparking a sharp selloff.
SpaceX's valuation has now dropped from nearly $3 trillion to around $2.37 trillion, making it one of the biggest market value declines seen this year.
short in!
That's how much value SpaceX ($SPCXB ) has lost over the past two days.
The stock is now down 18% from its post-IPO high and trading close to the average investor's cost basis after falling from above $225 to under $185.
The biggest trigger was SpaceX's proposed $60 billion all-stock acquisition of Anysphere, the company behind AI coding assistant Cursor.
Because the deal is being paid with stock instead of cash, it would dilute existing shareholders by roughly 3.4%, sparking a sharp selloff.
SpaceX's valuation has now dropped from nearly $3 trillion to around $2.37 trillion, making it one of the biggest market value declines seen this year.
short in!