SpaceX shares tumbled to a fresh post-IPO low Thursday, trading at roughly $111 a share. The sell-off wiped out more than $1 trillion from the company's market capitalization, according to data recorded at 11:30 a.m. EDT on July 23.
The Numbers Behind the Drop
The stock's slide marks the lowest level since the company's initial public offering. At that price, SpaceX's valuation has fallen sharply from its peak, though the exact peak figure was not disclosed in the available data. The $1 trillion loss in market value is one of the largest single-day declines for any publicly traded company.
Musk's One-Day Loss
Elon Musk, SpaceX's founder and largest shareholder, saw his personal fortune shrink by $35.2 billion in a single day as a result of the share price drop. The loss is tied directly to his stake in the company, which remains the bulk of his wealth. Musk's net worth had already been under pressure this year from swings in Tesla stock and his acquisition of Twitter.
The trading data was recorded at 11:30 a.m. EDT on Thursday, July 23. It is unclear whether the decline continued through the close of the session or if any recovery occurred later in the day.
