SpaceX falls for third day, erases $600 billion in market value

SpaceX shares fell 16% on Monday to $154.60, the third consecutive day of declines, bringing the three-day loss to 23% and erasing over $600 billion in market value, with capitalisation now around $2 trillion. The stock is about 15% above its $135 IPO price from the record $75 billion listing, but analysts at KeyBanc initiated with a sector weight rating, noting much of the long-term value is already reflected in current valuation. The company is reportedly seeking to raise at least $20 billion through its first bond offering and recently struck a multibillion-dollar deal with AI startup Reflection AI.