SpaceX Stock Drops 20% After Announcing $60 Billion Cursor Acquisition
By
Ty Roush
3h ago· 3 min readenNews
Summary
SpaceX stock dropped over 6% to under $179, extending a decline from its Tuesday peak above $225 — a roughly 20% dive. The sell-off wiped about $620 billion from its market value, dropping from $2.99 trillion to $2.37 trillion, moving SpaceX from the world's fourth-largest company to seventh. The decline was triggered by SpaceX's disclosure that it would acquire Cursor for $60 billion in stock, representing approximately 3.4% dilution for existing shareholders.
Source
bskySpaceX Stock Drops 20% After Announcing $60 Billion Cursor Acquisitionshare.googleKey quotes
· 3 pulledShares of SpaceX declined by more than 6% to just under $179 as of Thursday afternoon, extending Wednesday's decline of nearly 5% and a 20% dive since hitting a high above $225 on Tuesday.
That marks a roughly $620 billion reduction in SpaceX's market value since its Tuesday peak, lowering to $2.37 trillion from about $2.99 trillion.
SpaceX on Tuesday disclosed it would acquire Cursor for $60 billion in stock, representing roughly 3.4% dilution
Elon Musk’s rocket firm pulled back from a rally that pushed its market value ahead of Amazon and Microsoft.
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