Wall Street X

🚨 Why SPACEX ( $SPCX ) Shares are Down ~10% Today 😱 SpaceX extended its post IPO selloff today, with shares falling around 10%, marking the stock's biggest single-day drop since its blockbuster market debut earlier this month. What's interesting is that this comes just days after SpaceX briefly flirted with a $3 trillion valuation and became one of the most valuable companies on Earth. The stock had surged nearly 50% in its first few trading sessions, fueled by massive investor excitement around Elon Musk's empire. So why is the stock suddenly falling? A big reason is simple that reality is catching up with hype. Several analysts have warned that SpaceX's valuation already prices in years of future growth. Questions remain around Starship, profitability, and whether investors got a little too excited after the IPO. Another factor is the stock's tiny public float. Only a small percentage of SpaceX ( $SPCXB ) shares are actually available for trading, which makes price swings far more violent in both directions. The same scarcity that pushed the stock up can now accelerate the downside. Despite the drop, SpaceX is still trading well above its IPO price of $135 and remains one of the market's most closely watched stocks. Meanwhile, the company revealed it holds a staggering $100.8 billion in cash and recently launched a new notes offering, showing that its balance sheet remains incredibly strong despite the market volatility. Short 👇 #SpaceXPremarketFalls4.6%