SpaceX shares, the aerospace company of magnate Elon Musk, registered a drop of close to 3% around 7:00 PM on the New York Stock Exchange, after chaining three consecutive days of intense increases. This adjustment represents the first setback for the company since its debut in the markets last Friday, with which it has become the largest initial public offering (IPO) ever made.
At this moment, the price of the shares stands at 195.4 dollars, which implies a decrease of 3.2% compared to the 201.8 dollars at the previous close. Already on Tuesday, SpaceX slowed the escalation of its quotation, after marking an intraday high of 225 dollars which finally moderated to the closing price.
Overall, the company accumulates a revaluation of 45% in its first four sessions on the stock market, taking as a reference the exit price set at 135 dollars per share.
At these levels, Elon Musk's firm reaches a market capitalization of 2.57 trillion dollars (2.21 trillion euros), positioning itself as the fifth largest listed company on the planet, ahead of Amazon, whose valuation stands at 2.56 trillion dollars (2.20 trillion euros).
In the previous session, SpaceX even momentarily occupied the fourth global position by surpassing Microsoft. Thus, the aerospace group is only behind Nvidia, Apple, Alphabet—Google's parent company—and Microsoft itself.
SpaceX's initial public offering (IPO) resulted in a total collection of approximately 85.7 billion dollars (73.855 billion euros), after the placing entities exercised in full the over-allotment option ('greenshoe'), as detailed by Elon Musk's company.
On the other hand, the founder and CEO of SpaceX has reiterated his optimism about the business's potential and its evolution in the coming years, predicting that the company's revenues will reach around one trillion dollars in 2030. "I think SpaceX could reach revenues of approximately one trillion dollars in 2030," stated Elon Musk.
After its jump to the stock market, the businessman has become the first person in the world to exceed a personal net worth of one trillion dollars, driven by the spectacular valuation of the aerospace company.