SpaceX stock dropped 20% from its all-time high, erasing $490 billion in market value within 48 hours as lockup expiration fears and market pressure mount.

After a strong start, questions remain on how the company will reach profitability.

SpaceX shares gained over 25% in two days after the largest IPO in history, while tokenized SPCX products and Hyperliquid perps drove $1.3B in crypto