Overview
- SpaceX went public on June 12 in the largest IPO ever and its shares leapt above the $135 offering price before sliding over several sessions this week.
- Retail buyers powered the early surge with roughly $370 million of net purchases in the first three trading days but retail flows slowed sharply as profit‑taking set in.
- The company confirmed a roughly $60 billion all‑stock acquisition of Anysphere (Cursor) on June 16, a deal that analysts say creates dilution concerns and prompted mixed price targets.
- Bloomberg and other outlets reported banks preparing investor calls for a potential $20 billion‑plus bond sale to fund AI expansion, a move investors see as another near‑term catalyst.
- Only about 4–5% of shares were floated and Elon Musk keeps overwhelming voting control, a structure that, together with S&P’s 12‑month seasoning rule and near‑term lockups, could amplify volatility when passive funds or insiders trade shares.