Within three days, the company lost 600 billion USD. The sell-off also affected the broader technology market. Investors were unsettled by the fact that the company plans to finance its further development through its first-ever bond issuance, from which it intends to raise at least 20 billion USD, and this will not be a one-off action. The funds raised are intended to finance its artificial intelligence development program. The sell-off also affected Elon Musk’s personal wealth, who, after the massive success of the IPO, became the world’s first trillionaire; however, after the multi-day sell-off of SpaceX shares on the stock exchange, his wealth significantly dropped back to the billion-dollar range.
Development of SpaceX’s company value on the stock market since its IPO. (Source: Google Finance) *
Shares under criticism
The company’s shares are being criticized for being overvalued. They are currently trading at 100 times revenue, whereas companies included in the NASDAQ technology index usually trade at 6 times their revenue. Another factor is the extent to which the company will truly be able to succeed in the space business in the near future, as Musk is notoriously known for continuously postponing the launch of new products even at the electric car manufacturer Tesla.
After the crash: Another new development
However, as is typical in Musk’s case, he is not deterred by fluctuations and continues to surprise the public with innovations. SpaceX President Gwynne Shotwell announced to investors that the company wants to offer Starlink satellite internet to U.S. consumers. SpaceX already provides mobile network connectivity in the U.S. in cooperation with T-Mobile and delivers internet from space to remote areas, but the latest information suggests the company could build its own terrestrial mobile network, which would make it a direct competitor to brands such as Verizon, AT&T, and T-Mobile. This would also represent one of the company’s most significant expansions since the launch of Starlink, which provides high-speed internet via satellites in more than 150 countries worldwide.
Success in space
On June 23, 2026, the company also tested the Starfall capsule, which it launched into space. The capsule was designed to support orbital manufacturing and space logistics, enabling specific production processes in orbit that cannot be carried out on Earth, such as the production of innovative medicines, biotechnology applications, or crystal growth, which the capsule is then expected to safely return to Earth. It also envisions ultra-fast transport of materials from one point to another. The flight was broadcast live on the NASASpaceflight YouTube channel.
Manipulating value?
Musk’s influence on company valuation is also well known. Through his controversial statements and groundbreaking announcements, he has in the past “effectively influenced” Tesla’s market price. Before SpaceX’s entry into the stock market, he also attracted investor interest by promising to build a permanent settlement with a million inhabitants on Mars. But let’s be honest—the probability that he will achieve this within his lifetime is not very high... The stock crash just days after SpaceX’s IPO reminds investors of an important fact: market sentiment is highly volatile, and it is therefore important to build a truly high-quality portfolio capable of withstanding even turbulent fluctuations in any of its components.
* Past performance is not a guarantee of future results.
