SpaceX Stock Drops 20% From Peak After Announcing $60 Billion Cursor Acquisition
By
Ty Roush
Summary
SpaceX stock experienced a sharp decline of over 6% on Thursday, extending a multi-day selloff that saw shares drop roughly 20% from a Tuesday peak above $225. The decline wiped out approximately $620 billion in market value, reducing SpaceX's valuation from $2.99 trillion to $2.37 trillion. The selloff followed SpaceX's announcement that it would acquire Cursor for $60 billion in stock, representing about 3.4% dilution. SpaceX had briefly ranked as the world's fourth-largest company ahead of Amazon and Microsoft, but has since fallen to seventh place behind TSMC.
Source
bskySpaceX Stock Drops 20% From Peak After Announcing $60 Billion Cursor Acquisitionforbes.comKey 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
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