The First Test for SpaceX Stock Was in the Debt Market, Not on the Launchpad. It May Have Scored Better Than You Think.

SpaceX’s first major test as a public company came through the debt market rather than a launch, with shares reacting sharply after the company announced its inaugural offering of senior unsecured notes. The stock decline followed the announcement and was described as the steepest one-day drop since SpaceX began trading earlier that month, with the article citing a slide of more than 16% on Monday. That move reportedly erased $400.8 billion in value and ranked as the second-largest one-day market-cap loss for a U.S. company. The piece notes SpaceX’s broader business footprint—Falcon, Dragon, Starship, Starlink, and products linked to xAI, including Grok—alongside a market capitalization of $2.04 trillion and a trading start date of June 12. It also says the company priced 10-year notes at a spread about 1.4 percentage points above Treasuries. Bloomberg is referenced regarding a $25 billion, five-part bond offering.