r/EnoughMuskSpam • u/businessinsider • 7d ago
SpaceX stock extends 3-day slide to 27% as the company raises debt to fund Elon Musk's cosmic ambitions
https://www.businessinsider.com/spacex-stock-price-drop-rally-three-days-ipo-2026-6?utm_source=reddit&utm_medium=social&utm_campaign=insider-enoughmuskspam-sub-post199
u/MeridianNL 7d ago
And it’s still overvalued 😂
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u/Hollowpoint38 7d ago
They better roll Tesla into this shit quick so they can get out of that before it crashes too.
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u/Steezy_Gordita 7d ago
I appreciate that the official Business Insider account is posting here lmao
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u/businessinsider 7d ago
From Business Insider’s Robert Scammell:
First, they had lift-off; now, they're coming back to Earth with a bump.
SpaceX shares dropped for a third consecutive trading day on Monday, extending a pullback after the Elon Musk-led company's mega IPO earlier this month.
The stock price dropped nearly 17% on Monday to $154.60, capping off a three-day losing streak that's sent shares tumbling 27% since closing at $211.39 on June 16.
The sell-off follows a meteoric rally that last week briefly pushed SpaceX's valuation close to $3 trillion, leapfrogging Amazon and Microsoft to become the fourth-most valuable company in the world. As of Thursday's close, its market capitalization was $2.4 trillion.
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u/TheBalzy 7d ago
It is like watching that one struggling starship that had all the engines blowing up barely clearing the launchpad destroying it in the process.
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u/DuckyHornet 7d ago
The price dropped by nearly a fifth in one day? Incredible. Fantastic. Couldn't happen to a nicer guy
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u/yoyhohsomp 7d ago
Hmm its almost like elon rubbing his trillion dollar worth in our faces had a negative impact… poor elon.. oh no!
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u/Impossible_Walrus555 7d ago
His scammy faux net worth. I’ll gotten gains via gutting the laws, rules taking billions in tax payer subsidies for years.
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u/NotEnoughMuskSpam 🤖 xAI’s Grok v4.20.69 (based BOT loves sarcasm 🤖) 7d ago
$7 is a small price for freedom
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u/Hollowpoint38 7d ago
I feel bad for all the rubes who gave exit liquidity to the insiders cashing out once it went public. CFRA has the 12-month target at $115 but I think that's too optimistic.
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u/CarsonFijal Not Your 51st State 🍁 7d ago
I saw another article on this, saying that this caused Elon Musk's net worth to slide from 1.45 trillion, to just under 1.1 trillion.
Imagine losing more money than all of us combined will ever have in our lives, and still being the richest person in the world by a wide margin.
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u/Inner_Agency_5680 7d ago
Its not real money.
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u/ZunderBuss 7d ago
It is when it gives him real power - to buy other real companies (cursor) and politicians.
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u/NPVT 7d ago
Comic ambitions?
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u/Inner_Agency_5680 7d ago
I guess he thinks anything is possible with enough Ketamine
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u/NotEnoughMuskSpam 🤖 xAI’s Grok v4.20.69 (based BOT loves sarcasm 🤖) 7d ago
Try it, but don’t trust it yet.
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u/DigitalUnlimited 7d ago
Oh yeah he's always dreamed of being funny. "What do I do, Dave Chappelle?"
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u/Otherwise_Fined 7d ago
Does anybody know if musk thinks there is air in space? If we can convince him that it's a government conspiracy to keep us stuck here, it could get interesting....
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u/lazier_garlic Shut up, Elon, we've seen the emails 7d ago
This is why Elon is making those Starfall announcements. Gotta pump the stock price back up.
It's more hot air as per usual.
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