Elon Musk Loses $620 Billion In Days After Record IPO

Article by Kumar Published on: 12:05 pm, 23 June 2026

Just days after its record breaking IPO, Elon Musk’s SpaceX has suffered a massive setback, losing nearly $620 billion in market value. Investors turned cautious following the company’s $60 billion all stock acquisition of AI coding startup Cursor, fearing dilution and overvaluation concerns. The sharp selloff pushed SpaceX down from its post IPO peak, triggering debate over whether the company’s historic market rally can be sustained.

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