Spacex Shares Extend Slide With Another 3% Fall; Over $600 Billion In Market Value Wiped Out In 3 Sessions

SpaceX Shares Plummet as Market Concerns Mount

SpaceX's stock took another hit, dropping 3% and marking the third consecutive day of declines that have erased more than $600 billion in market capitalization. The share price has now dipped below its initial listing value, raising alarms among investors.

Worries surrounding the company's valuation, its ambitious AI expansion funded by debt, and a general downturn in the tech sector have contributed to the negative sentiment. This comes even as the company prepares for its expected inclusion in the Nasdaq-100, highlighting the disconnect between market expectations and current performance.