SpaceX shares fall as post-IPO frenzy loses steam

Factual coreconfirmed by several independent voices

• The average SpaceX buyer post-IPO is almost under water after two-day slide.

  reliability moderate2/2 sources

Reported detailssecondary facts, each attributed to its source

• Shares of SpaceX dropped more than 6% last night, as the post-IPO frenzy that briefly placed Elon Musk's rockets-to-AI firm among the world's top five most valuable companies appeared to fizzle out.

  according to RTÉ News +2

• However, Moody's still projects strong revenue and earnings growth through 2028, driven chiefly by Starlink, which counted 12 million subscribers as of early June, alongside an expected turning point in the AI division.

  according to Euronews

• The shares fell as low as $172 during the session before paring losses, as investors weighed whether the company's lofty valuation had run too far.

  according to Euronews

• SpaceX closed at $185, down more than 18% from the high of $225.6 it reached on Tuesday, when its valuation briefly topped $3 trillion (€2.6tn).

  according to Euronews

• As for the other credit agencies, Fitch issued a BBB+ long-term issuer default rating, also with a stable outlook, citing the company's commanding lead in commercial launch, where it has delivered more than 80% of global mass to orbit since 2023.

  according to Euronews

• The agency cited recent third-party compute deals with Anthropic and Google worth a combined $75 billion (€65bn) as evidence of that potential.

  according to Euronews

• The endorsements arrive less than a week after the company's record IPO, which raised around $85.7 billion (€73.8bn) in the largest initial public offering in history.

  according to Euronews

• Reacting to the news in a reply on social media, Elon Musk wrote: "Tesla’s credit rating is ridiculously low to be honest." According to Moody's, Starlink has become SpaceX's primary cash flow generator, underpinning improving scale, wider margins and a gradual shift away from more cyclical launch revenue.

  according to Euronews

• Moody's assigned SpaceX a Baa1 long-term issuer rating with a stable outlook.

  according to Euronews

• Elon Musk's space and AI firm secured first-time ratings from Moody's, Fitch and S P Global on Thursday, a milestone that places its debt firmly in investment-grade territory and could allow it to borrow more cheaply as it funds a vast expansion.

  according to Euronews

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• Shares of SpaceX fell as much as 7% Thursday to $178, leaving the stock trading roughly in line with its volume-weighted average price of…

  omitted byRight sidePublic / Agenciescovered byCenter

• The average SpaceX buyer post-IPO is almost under water after two-day slide.

  omitted byRight sidePublic / Agenciescovered byCenter

Sources4 sources cross-checked

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