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One‑day selloff wipes $400 billion off SpaceX after IPO rally
SpaceX’s market capitalization fell by $400 billion in a single day. RIA Novosti, citing current stock market data, reports that Elon Musk’s company’s shares dropped 16.43%. The share price fell from $185.00 to $154.60, pushing the company’s total market valuation down to $2.037 trillion from $2.437 trillion. The scale of the collapse interrupted a powerful upward rally that had followed the largest initial public offering (IPO) in history.
Recall that on the wave of initial investor exuberance, SpaceX had rapidly broken into the top four most valuable corporations in the world, overtaking tech leaders such as Amazon and Microsoft by market capitalization. However, on June 17, the uptrend gave way to a deep correction, and prices moved into decline. One of the main reasons for the sharp shift in market sentiment was growing concern among experts about the company’s pronounced overvaluation, with its multiples starting to alarm conservative market participants.
Comments from well‑known investor Michael Burry, famed for accurately forecasting market crashes, further fanned the selloff. He publicly questioned the rationale for SpaceX’s valuation, which at its peak approached $3 trillion, and categorically refused to invest in the asset. Burry stressed that he has no involvement in either short‑term or long‑term investments in the company’s securities. He called SpaceX merely “a niche telecommunications company” with annual revenue below $20 billion, a profile that makes its current market value out of line with its real financial metrics.
Published 25 June 2026
© InstaFintech Group
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© InstaFintech Group
