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SpaceX Falls to Eighth in U.S. Market Cap Rankings as Meta Surpasses It, Stock Down 21% in Seven Days

GateNews
Stocks
SPCX2.53%
META0.49%

According to MarketWatch, SpaceX dropped to eighth place in U.S. market capitalization rankings on Monday (July 20), as Meta Platforms surpassed it. SpaceX's market cap now stands at approximately $1.59 trillion after declining 21% over seven consecutive trading days, while Meta's market cap is around $1.64 trillion.

The decline follows multiple setbacks for SpaceX. CEO Elon Musk announced last Thursday that the company was forced to delay its latest Starship test flight due to engine startup failures, requiring two engines to be removed and replaced. The 13th Starship test flight has been pushed to Thursday at the earliest.

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