Why SpaceX Stock Plummeted This Week

SpaceX stock fell 20.2% in its second week of trading following its June 12 IPO, declining 24% from its peak despite the IPO raising $85.7 billion. The decline was driven by broader market weakness and fading post-IPO excitement, compounded by concerns about AI chip stocks. With a valuation of 108x revenue, SpaceX faces volatility as investors reassess its growth-dependent pricing amid macroeconomic uncertainty.