SpaceX shares drop for a third straight day following the company’s announcement that it is selling investment-grade bonds for the first time. Multiple outlets report the selloff erases roughly hundreds of billions of dollars in market value over three sessions, with one report placing the loss at about $600 billion. The decline also follows wider market reaction to the company’s borrowing plans, which are described as part of a broader push to fund artificial intelligence initiatives and related growth efforts.
Reports say the stock falls sharply on the latest day, with Japan Times citing a 16% drop to close at $154.60, after earlier declines. While the shares fall, at least one outlet notes SpaceX remains above its IPO price and that retail investor interest continues. Another report adds that the company is seeking to raise at least $20 billion from the first bond offering, citing Bloomberg. Analysts referenced in the coverage suggest the market already reflects expectations about SpaceX’s future growth, even as the near-term share price reaction turns negative.
Overall, the coverage links the multi-day decline to the first investment-grade bond sale announcement and related financing plans.
