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🩸 SpaceX ( $SPCX ) Stock Bloodbath! 🩸
SpaceX shares plummeted 16% today, wiping out an astronomical $400 BILLION in market value in just 24 hours. This marks the sharpest one-day drop since its record-breaking IPO on June 12, with the stock closing at $154.60.
What triggered the panic? Investors are spooked by a new $20 billion debt offering to repay a bridge loan, raising major concerns despite SpaceX boasting $100.8 billion in cash and top-tier credit ratings.
The volatility took a massive bite out of Elon Musk’s fortune, erasing $150 billion from his net worth. While he remains the world's first trillionaire at roughly $1.1 trillion, his crown is looking slightly bruised today.
In a classic "buy the dip" move, Cathie Wood’s ARK Invest snatched up $35 million more shares during the selloff,betting on Starlink’s growth and launch dominance.
Are you buying this dip or staying away?
I'm familiar with ARK's moves.