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SpaceX shed more than 4% as a $400 billion sell-off pulled the space and AI company sharply back from the highs reached after its record-breaking IPO.
The retreat erases a meaningful portion of the initial surge that greeted the market debut, marking a notable reversal for investors who bought into the listing.
From Record IPO to Rapid Retreat SpaceX's public offering was flagged as record-breaking, generating the kind of opening momentum that typically draws momentum buyers and long-only funds looking to establish early positions.
That initial surge is now being unwound. A decline of more than 4%, set against a $400 billion sell-off, signals that at least some of that early enthusiasm has been repriced — quickly and at scale.
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