finance
SpaceX shares fall 16 percent, cutting Musk wealth by $152 billion
SpaceX stock declined 16 percent on Monday after its June IPO, reducing Elon Musk's net worth to $1.1 trillion. Tesla shares also dropped 5.8 percent amid a broader tech selloff.
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The stock closed at $156, above its $150 opening price on 12 June but well below the $225 peak reached a week earlier. The company went public on 12 June at $135 per share. Its market value has since declined from a high of about $2.99 trillion to just over $2 trillion.
Tesla and broader market moves Tesla shares dropped 5.8 percent on the same day as a selloff hit AI and semiconductor stocks. Most investors who bought SpaceX shares since the IPO remain in profit. The stock traded briefly below its opening price during the session before recovering to close above that level.
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