SpaceX just priced its debut bond, a roughly USD 25 billion investment-grade sale across five tranches, upsized from a USD 20 billion target after orders reached about USD 89 billion (a 3.5x oversubscription, one of the largest IG order books ever). It settles on June 26, with proceeds mainly repaying a bridge loan, even though SpaceX already sits on around USD 100.8 billion in cash. The stock has been a rollercoaster since the record IPO priced it at USD 135: it spiked to about USD 225 then pulled back toward the mid 150s. Insider lockups start unwinding from the Q2 print (first 20%) and fully release on December 8. Starlink has topped 10.3 million subscribers and connectivity is profitable, but the space and AI arms still burn cash. Buy the dip here, or wait for the lockups to clear?

SpaceX just priced its debut bond, a roughly USD 25 billion investment-grade sale across five tranches, upsized from a USD 20 billion target after orders reached about USD 89 billion (a 3.5x oversubscription, one of the largest IG order books ever). It settles on June 26, with proceeds mainly repaying a bridge loan, even though SpaceX already sits on around USD 100.8 billion in cash. The stock has been a rollercoaster since the record IPO priced it at USD 135: it spiked to about USD 225 then pulled back toward the mid 150s. Insider lockups start unwinding from the Q2 print (first 20%) and fully release on December 8. Starlink has topped 10.3 million subscribers and connectivity is profitable, but the space and AI arms still burn cash. Buy the dip here, or wait for the lockups to clear?

SpaceX's $25B Debut Bond: Buy the Dip or Wait?

Space, which is supposed to take us to the moon, has started a new round of harvesting✌🏻

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SpaceX shares dropped to $154.60, erasing $400 billion in market value and falling below its IPO closing price. The company confirmed plans to issue senior unsecured notes to repay a $20 billion bridge loan for xAI, despite holding $100.8 billion in cash. Additionally, SpaceX secured a deal with Reflection AI for $150 million monthly compute revenue through 2029.

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SpaceX sheds $400 billion in value as stock slides below its IPO-day closing price

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