SpaceX Plunges 16.43% on Monday, Erasing $400B in Market Value

According to BlockBeats, SpaceX shares dropped 16.43% on Monday (June 23), wiping out approximately $400 billion in market value in a single session and marking the second-largest single-day market cap loss for any global company on record. The stock has now declined for three consecutive trading days, with cumulative losses exceeding 23%, and the company's market value has fallen over $900 billion from its peak to reach $2.03 trillion.

SpaceX is seeking to raise at least $20 billion through its first bond issuance to support expansion in artificial intelligence, according to previous reports. Oppenheimer analyst Timothy Horan projects that SpaceX's net debt will increase by over $400 billion by 2031, surpassing current debt levels at nearly all major U.S. companies and exceeding Oracle's total debt by more than threefold.