SpaceX's Market Cap Drops $1T Since June Amid Falling Stock Price

SpaceX's market capitalization has decreased by over $1 trillion, dropping from a peak of $2.7 trillion on June 16 to current levels following a decline in share price. The stock, which was initially priced at $135 during its IPO, reached a record high of $225 but fell to $125, a 43% decrease. This decline was exacerbated by the cancellation of the 13th Starship test flight on July 16 due to an engine ignition failure. With fewer than 5% of shares publicly available, the price volatility may continue to attract short-sellers and affect ordinary investors' confidence in the stock (SPACEX).