00:00It's Benzinga, bringing Wall Street to Main Street.
00:02SpaceX shares fell 4.95% on Wednesday, pulling back after a strong post-IPO rally, according to CNBC.
00:10The Elon Musk-led company had surged roughly 42% since its IPO on Friday, when shares priced at $135.
00:18That run briefly pushed SpaceX's market cap above Amazon and Microsoft, making it the fourth largest U.S. company by
00:24valuation.
00:25The company closed Tuesday at a market cap of $2.66 trillion.
00:30SpaceX posted a $4.9 billion net loss in 2025 and lost $4.28 billion in the first quarter of
00:37this year.
00:38SpaceX's high valuation has drawn scrutiny over whether its growth plans are achievable.
00:43Musk projected on X that the company might be able to reach approximately $1 trillion in revenue by 2030.
00:51Analysts noted that the company's valuation will eventually need to be supported by fundamentals.
00:56For all things money, visit Benzinga.com.
Comments