$SPACE just had a brutal couple of days, wiping out roughly $620 billion in market value. Shares have tumbled 18% from their highest point since going public and are now hovering right around what the average investor paid for them.
According to BeInCrypto, the stock wrapped up Thursday at $184.98 (down 3.6%), which is a sharp drop from Tuesday's peak when it crossed $225. Right now, its five-day average price is sitting at $181.71.
The sudden drop tanked SpaceX’s overall valuation from nearly $3 trillion down to $2.37 trillion. The sell-off was triggered by an announcement on June 16 that SpaceX plans to acquire Anysphere—the company behind the AI coding tool Cursor—in a $60 billion all-stock deal. While the move is a massive play into AI, it means about 3.4% stock dilution, and investors clearly aren't thrilled about it.
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