SpaceX fell 16% on Monday, marking its biggest single-day loss since listing and extending a three-day selloff that has pushed shares down nearly 24%.
The decline came as SpaceX announced its first bond sale of at least $20 billion to qualified institutional buyers. The company said it plans to use the proceeds to repay debt. At the same time, SpaceX disclosed that it holds just over $100 billion in cash and cash equivalents, giving investors plenty to weigh up.
Even after the pullback, SpaceX remains about 16% above its $135 IPO price. But for investors who bought in after the listing, the recent slide has erased nearly all of their paper gains.
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