SpaceX Shares Slide in Secondary Market as Regulatory, AI Spending Concerns Mount

Shares of Elon Musk's SpaceX took a hit in private secondary trading on July 13, falling 4.2% to $139.14 - inching close to the $135 price set during a tender offer just a month ago. The dip, tracked on platforms that handle pre-IPO stock, brought the valuation closer to its recent floor, though the company remains one of the most valuable private firms globally. At its lowest point during the session, shares touched $136.78, a stark contrast to the all-time high of $225.64 reached on June 16.

The decline comes on the heels of a landmark secondary sale that raised $75 billion for early investors and employees, with an additional $10.7 billion secured through an over-allotment option. That transaction briefly pushed Musk's net worth past the trillion-dollar mark - a milestone that lasted just 12 days as the company's valuation began to cool. Investor unease has been fueled by three key factors: plans to issue $20 billion in bonds to fund artificial intelligence initiatives, a multibillion-dollar partnership with AI startup Reflection AI, and projections that SpaceX will not turn a profit for several more years.

The sell-off accelerated after the Federal Aviation Administration (FAA) announced it had completed its review of an anomaly during May's test flight of the most powerful Starship rocket version. The agency confirmed it had signed off on SpaceX's corrective actions and findings. In response, the company quickly scheduled the next flight test for July 16, signaling confidence in its path forward even as investors weigh the costs of its ambitious AI and space ventures.

Source: Lenta.RU