SpaceX Stock Extends Post-IPO Slide Amid Bond Offering Concerns

SpaceX (SPCX) shares tumbled 10.8% on Monday, marking their steepest single-day decline since going public earlier this month. The stock has now erased $250 billion in market capitalization, trading 15% below its record close of $201.80. Despite the drop, it remains 27% above its $135 IPO price—a silver lining for early investors.

The selloff intensified after SpaceX confirmed its first-ever bond offering, though the size remains undisclosed. Proceeds will repay bridge loans and cover fees, but markets reacted skeptically: Bloomberg reports the company seeks $20 billion in debt, raising valuation concerns. Debt issuances often trigger bearish sentiment, as they imply liquidity needs and interest expense burdens.

Elon Musk’s space venture now faces a critical test of investor confidence. While its IPO was a milestone for private space companies, the bond move suggests growing pains—and Wall Street is voting with its feet.