SpaceX, the company that went public less than two weeks ago at $135 per share, just gave investors whiplash. A single-day plunge of more than 16% erased hundreds of billions in market capitalization and knocked over $100 billion off Elon Musk’s personal fortune in one trading session.
The catalyst: SpaceX announced a $20 billion bond issuance to fund AI projects and expansion plans.
From IPO darling to cautionary tale in 11 days
SpaceX completed its highly anticipated IPO on June 12, 2026, pricing shares at $135 and raising $75 billion. That gave the company a valuation of approximately $1.75 trillion, making it one of the largest public offerings in history.
Shares surged to an intraday high of $225.64 on June 16, nearly doubling from the IPO price. Musk’s net worth climbed above $1.3 trillion.
