Overview
- SpaceX debuted on Nasdaq in a June 12 IPO that pushed its market value above $2 trillion, placing it briefly among the world’s largest public companies.
- After an initial multi-day rally that drove the stock toward $225 per share, shares have swung the other way and fell as much as about 20% from that peak in trading on Thursday.
- Argentine investors piled into a newly listed Cedear for SpaceX under the ticker SPCX, making it the country’s most-traded Cedear with roughly $24 million in MEP-adjusted volume.
- The company formalized a stock-financed acquisition of Cursor AI/Anysphere reported near $60 billion and advisers are said to be preparing a roughly $20 billion debt placement.
- Market watchers point to a very small free float (about 4–4.3%), concentrated founder control and sensitivity to U.S. rate expectations as reasons the stock can move sharply and affect global and retail investors.