SpaceX's market value plummeted over 16% in a single day, evaporating over $90 billion from its peak.

BlockBeats News, June 23rd, U.S. stocks closed on Monday, with SpaceX plummeting by 16.43%, falling below its IPO's first-day closing price. The market value evaporated by about $400 billion, marking the second largest single-day market value loss in global corporate history. The stock has fallen for three consecutive trading days, with a cumulative decline of over 23%, causing a market value loss of over $900 billion from its peak. SpaceX's stock price is still 14.5% higher than the $135 IPO price, with the current market value at $2.03 trillion.

Earlier reports indicated that SpaceX is seeking to raise at least $20 billion through its first bond issuance as part of its anticipated large-scale borrowing plan. The funds raised will be used to support its expansion in the AI field. In February of this year, SpaceX completed the acquisition of xAI under Musk's umbrella, formally incorporating AI business into its core strategic framework.

Oppenheimer analyst Timothy Horan stated that debt financing is expected to become SpaceX's primary source of funding. He projected that by 2031, SpaceX's net debt would increase by over $400 billion, far exceeding the book debt levels of nearly all U.S. companies and more than three times Oracle's total debt.