SpaceX Shares Experience Decline After Post-IPO Surge
Shares of SpaceX, the aerospace and artificial intelligence firm, fell by nearly 9% on Thursday. This downturn suggests a cooling of the initial market enthusiasm that had briefly propelled the company to rank among the world's most valuable enterprises.
The stock was last recorded down 8.8% at $174.8, building on a nearly 5% drop from the previous trading session. Despite these recent losses, the share price remains more than 29% above its initial offering price of $135.
Earlier in the week, SpaceX's market capitalization had momentarily exceeded that of Amazon and even briefly surpassed Microsoft, highlighting the rapid valuation growth it experienced.
In related financial news, reports on Thursday indicated that bankers for SpaceX are in the process of preparing for a bond sale valued at a minimum of $20 billion. Concurrently, SpaceX announced earlier this week its intention to acquire Anysphere, the company behind the AI coding agent Cursor, in an all-stock transaction valued at $60 billion.
