<div id="readability-page-1"><div><div>                                                                                                                                                <p>The euphoric phase for SpaceX (SPCX) appeared over. The stock market did not respond well to the newly listed firm’s plans to raise $20 billion in debt.</p><p>Before its IPO, SpaceX bought Twitter. It borrowed debt to pay for the transaction. After the listing, investors expected the firm to use the proceeds to pay down maturing bonds. <br/>Instead, SpaceX might refinance its existing debt. That is bad news for new shareholders. It will still have high debt on its balance sheet. </p><p>Days after the listing, SpaceX took advantage of its strong share price that traded as high as $225.64. It announced it would buy Cursor, an AI firm, in an all-stock transaction. With SPCX stock closing down by 16.43% to $154.60 on June 22, Cursor’s $60 billion price will fall.</p><p>Analysts at Oppenheimer tried to characterize the company as being “vertically integrated.” That would suggest a total addressable market of $25 trillion. The thesis is flawed, since it requires SpaceX to have a fabrication facility to make chips, dominance in AI, a commanding lead in solar panels, and little to no competition in the satellite and rocket ship market.</p><p>In the latter case, investors could buy Viasat (VSAT) shares at a discount. AST SpaceMobile (ASTS) and Rocket Lab (RKLB) entered a bear phase. When their share price falls, investors might sell SPCX stock and buy those two stocks instead.<br/></p></div></div></div>

RKLB

ASTS

<p>SpaceX stock fell over 16% after its listing due to investor disappointment that it plans to refinance existing debt rather than pay down bonds acquired during the Twitter purchase. Additionally, SpaceX announced an all-stock acquisition of AI firm Cursor for $60 billion, a valuation that dropped with the share price. Analysts criticized the company's 'vertically integrated' growth thesis as flawed, citing unrealistic market dominance assumptions and competition from rivals like Rocket Lab.</p>

Baystreet

Rocket Lab

AST SpaceMobile

Planet Labs

Destiny Tech100

Fundrise Innovation Fund LLC

Echostar

Tianhong CNI Aerospace ETF

ARK Space Exploration & Innovation ETF

Defiance Daily Target 2X Long RKLB ETF

SPDR S&P Aerospace & Def

Hwabao WP CSI Military Industry ETF

ChinaAMC CNI Aerospace ETF

Huatai-PB CSI All Share Aviation & Aerospace ETF

Invesco Aero & Defense ETF

ISHRS Aero & Def

Defiance Daily Target 2X Short RKLB ETF

Tradr 2X Long ASTS Daily ETF

T-REX 2X Long ASTS Daily Target ETF

Defiance Daily Target 2X Short ASTS ETF

Defiance Daily Target 2X Long PL ETF

ECHOSTAR CORPORATION

Oppenheimer

ViaSat

Why SpaceX Fell by over 16%