SpaceX Shares Sink to $120, Erasing $1 Trillion as $60 Billion AI Deal Spurs Selloff
Updated
Updated · Mashable · Jul 21
SpaceX Shares Sink to $120, Erasing $1 Trillion as $60 Billion AI Deal Spurs Selloff
3 articles · Updated · Mashable · Jul 21
Summary
Seven straight down days have pushed SpaceX to a new low of $120, below its $150 IPO price and roughly $1 trillion off its market value.
The slide accelerated after SpaceX announced a $60 billion acquisition of AI coding agent Cursor, adding to broader investor unease over AI-linked bets.
MSCI also assigned SpaceX its lowest Triple-C ESG rating, a mark that can deter funds using environmental and governance screens.
Starship remains the company’s key near-term test: its 13th launch slipped from July 16 because of engine issues, with another attempt planned for Thursday.
Elon Musk has warned short sellers on X, but the drop has already cost him his brief trillionaire status and underscored weak post-IPO sentiment.