SpaceX Tumbles Over 10% in Three Days After $20B Debt Plan

According to Reuters and Bloomberg, SpaceX's stock fell over 10% on Monday (June 23) during its third consecutive trading day of decline, sliding from a peak near $225 to approximately $169–$170. The plunge was triggered by the company's plan to issue at least $20 billion in investment-grade bonds to refinance a bridge loan maturing in 2027, originally taken to fund the integration of Elon Musk's AI subsidiary xAI earlier this year. Despite the pullback, the stock remains about 27–30% above the IPO price of $135 set on June 12.

Additional pressure may come from upcoming restrictions on employee and early investor shareholdings. According to the prospectus, lock-up provisions will begin lifting in August when the company reports its first quarterly earnings, potentially allowing early stakeholders to liquidate positions at elevated prices.