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SpaceX Stock Continues to Plummet, Market Value May Fall Below $2 Trillion

On June 23, SpaceX's stock continued its downward trend in pre-market trading, following a day when the company's market value experienced the second-largest drop in U.S. stock market history. The stock fell by as much as 5% to around $147, dipping below the $150 opening price on its first day of trading. The rocket, satellite, and artificial intelligence company led by Elon Musk now faces the risk of its market value falling below $2 trillion. After three consecutive days of declines, SpaceX's market value has cumulatively evaporated by over $600 billion. On just Monday, its market value dropped by approximately $400 billion, second only to Nvidia's market value plunge of about $590 billion last year.

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