SpaceX sheds about $1T in market value from June peak

SpaceX shares fell approximately 5% to $123.82, erasing roughly $1 trillion in market value from its June peak of $2.64 trillion. The stock has dropped about 45% since its intraday high on June 16. This decline follows the cancellation of a planned Starship launch due to engine issues. Despite an initial post-IPO rally and inclusion in the Nasdaq-100, investor sentiment has cooled, bringing SpaceX's current market capitalization to approximately $1.64 trillion.