# SpaceXPlunges16%MarketCapErodes400B

On June 22, SpaceX closed down 16.43% at $154.60, falling below its IPO closing price and hitting a record low since listing. The stock has now fallen for three consecutive trading days, with cumulative losses exceeding 23% and market cap eroding over $600 billion. The company announced its first investment-grade bond offering of at least $20 billion to fund AI expansion, triggering a reassessment of valuation sustainability. The single-day market cap loss of approximately $400 billion marks the second-largest daily loss in global corporate history.