Weeks after record-breaking IPO, Elon Musk’s SpaceX loses $1tn in market value

SpaceX shares have fallen significantly since their record initial public offering. The company’s market value has dropped by approximately one trillion dollars from its peak. Investor concerns grew after the recent Starship launch was called off by the company. Upcoming lock-up expirations for employees and early investors also pressured the stock. SpaceX shares have now slipped below their initial public offering price.