Spacex stock price drop continues as shares were trading at $181.60 after closing at $185 on Thursday. The Elon Musk-led rocket maker and AI company was down 3.6 per cent following a 4.9 per cent loss on Wednesday. If the losses persist, SpaceX's market value of $2.52 trillion would shrink by more than $150 billion on Thursday. SpaceX's valuation surged past $2 trillion following its blockbuster Nasdaq debut last week. Its shares soared in their first two days of trading before giving up some gains as investors assessed whether the company's rich valuation can be justified by its costly AI push.
On the losing end, SpaceX fell for the second straight day since its ballyhooed debut on the U.S. stock market last week. Shares in Elon Musk's SpaceX lost 3.6 per cent in their second straight day of declines, after the space and AI company had rallied sharply for the first few days of trading after its market debut last Friday. Thursday also marked the once-in-a-quarter simultaneous expiry of derivatives contracts tied to stocks, index options and futures, also known as "triple witching," which can boost trading volume and aggravate volatility.
