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SpaceX Shares Fall More Than 6% on Thursday After Cursor Acquisition
SpaceX stock declined for a second straight day following its $60 billion all-stock purchase of Cursor, cutting its market value by roughly $620 billion from Tuesday’s peak.
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SpaceX shares declined by more than 6% to just under $179 on Thursday afternoon, extending a nearly 5% drop the previous day. 37 trillion. The decline followed SpaceX’s Tuesday disclosure that it would acquire AI coding startup Cursor for $60 billion in stock.
77 trillion IPO valuation. 99 trillion on Tuesday, briefly placing the company fourth among the world’s largest firms. 38 trillion.
Morningstar lowered its fair-value estimate for SpaceX to $62 per share from $63, citing the dilution from the Cursor deal. The firm noted that shares could reach $169 in a best-case scenario if AI revenue improves. 2 million directed into Nvidia over the same period, according to Vanda Research.
Option trading in SpaceX also began on Tuesday. Susquehanna analyst Chris Murphy wrote that there is a 15% chance SpaceX stock will lose half its value over the next three months. Oppenheimer analyst Timothy Horan raised his year-end price target to $250 from $190, stating the acquisition gives SpaceX access to Cursor’s AI technology, engineering talent, training data and user base.
2 trillion as a result of the share-price decline. 4 trillion during SpaceX’s three-day winning streak after the IPO priced at $135 per share.
