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Reuters
Thu, June 18, 2026 astatine 12:01 PM CDT 1 min read
June 18 (Reuters) - Shares of Elon Musk's rockets-to-AI steadfast SpaceX dropped astir 9% connected Thursday, as the post-IPO frenzy that concisely placed it among the apical 5 astir invaluable companies of the satellite appeared to fizzle out.
Its shares were last down 8.8% to $174.8, aft falling astir 5% successful the past session. Despite the losses, the banal inactive traded much than 29% above its $135 offering price.
Earlier this week, the market capitalization of SpaceX overtook that of Amazon, momentarily adjacent surpassing that of Microsoft.
Bloomberg News reports connected Thursday that SpaceX bankers were preparing for a enslaved sale of astatine least $20 billion. SpaceX besides said earlier this week that it is buying Anysphere, the startup down the fashionable AI coding cause Cursor, for $60 cardinal in an all-stock deal.
(Reporting by Shashwat Chauhan successful Bengaluru; Editing by Joyjeet Das)
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