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SpaceX is down 20% from its issue price, and its market cap has fallen by $1.2 trillion from its peak.
PANews July 28 news: Due to investors seeking safety and no longer being optimistic about high-risk technology companies, SpaceX (SPCX.O) shares are down about 20% from the IPO price. In early trading on Tuesday, Space shares fell more than 5%, to around $107, extending the selloff seen in the first few days after last month’s IPO from its peak. Its market value has evaporated by $1.2 trillion from the peak on June 16, setting one of the largest market-cap wipeout records in history. In recent times, a complex geopolitical situation and concerns about supply-demand imbalances and valuation inflation in AI ecosystems driven by massive spending have dealt a blow to many large companies in the sector. SpaceX investors are also watching the potential impact of the end of the lockup period on August 6 for stock worth $116 billion, with 911.5 million shares.