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SpaceX shares dropped another 10%, extending their decline to a third consecutive session after a historic post-IPO rally.
SpaceX shares have fallen 23% from their recent peak but continue to trade above their IPO price.
SpaceX shares fell about 12% as investors took profits following the stock’s powerful post-IPO surge.
SpaceX reached a $2.8 trillion valuation, surpassing Amazon and becoming one of the world’s most valuable companies.
SpaceX added $412 billion in market value in a single day, lifting its capitalization to $2.5 trillion.
South Korea halted trading after the KOSPI fell 8.4%, triggering an automatic circuit breaker.
Investors are debating whether SpaceX’s reported $2 trillion valuation leaves meaningful upside ahead of its IPO.
Some market analysts warn that SpaceX’s upcoming IPO could become one of the largest insider liquidity events ever, as early investors gain access to trillions of dollars in previously locked-up equity.
SpaceX reportedly priced its IPO at $135 per share, valuing the company at approximately $1.75 trillion.
SpaceX is reportedly targeting a $1.75 trillion valuation for its upcoming IPO, with the company expected to begin its investor roadshow on June 4 ahead of a planned Nasdaq debut on June 12.
Victoria’s Secret shares soared nearly 40% after the company reported quarterly results that exceeded Wall Street expectations, triggering one of the stock’s strongest rallies in years.
Marvell shares surged after Nvidia CEO Jensen Huang described the company as the next potential trillion-dollar business, highlighting its growing role in AI infrastructure and networking.
Investors now view Nvidia as a safer borrower than the U.S. government, with the company’s five-year credit default swap trading below U.S. sovereign CDS levels.
U.S. regulators are eliminating the long-standing Pattern Day Trader rule, removing the $25,000 minimum account requirement for frequent stock traders and reshaping retail market access.
The Shanghai Stock Exchange approved Unitree Robotics’ IPO application, clearing a major hurdle for one of China’s most prominent humanoid robot companies as investor interest in robotics continues surging.