SpaceX (SPCX.O) shares trade roughly 20% below their IPO price. On Tuesday morning the stock fell more than 5% to about $107, extending the sharp post-IPO drop from June highs. Market capitalization has declined roughly $1.2 trillion from its June 16 peak, among the largest market-cap evaporations on record. Investors have rotated away from high-risk tech amid heightened geopolitical tensions and concerns that heavy AI-related spending has distorted supply-demand and valuations in the sector. Ma

SpaceX (SPCX.O) shares trade roughly 20% below their IPO price. On Tuesday morning the stock fell more than 5% to about $107, extending the sharp post-IPO drop from June highs. Market capitalization has declined roughly $1.2 trillion from its June 16 peak, among the largest market-cap evaporations on record. Investors have rotated away from high-risk tech amid heightened geopolitical tensions and concerns that heavy AI-related spending has distorted supply-demand and valuations in the sector. Market participants are also watching an Aug. 6 lock-up expiry that will free about 911.5 million shares valued at roughly $116 billion.