SpaceX completed a historic IPO in June 2026 at $135 per share, valuing the company at over $2 trillion. The stock peaked above $225 before dropping nearly 50% by late July, falling below its IPO price for the first time around July 15. This correction wiped hundreds of billions of dollars in market value and dragged Tesla down with a 18% single-week decline. The decline reflects investor concerns over the company’s massive spending on artificial intelligence, deemed disconnected from fundamentals.
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