SpaceX Crashes 16%, Elon Musk's Wealth Dented By $152 Bn; Is Rocket Stock Losing Steam? Moody's Assign Ratings

The world's biggest IPO, SpaceX, started this week with extreme selling pressure on Monday, nosediving by at least 16% and erasing around $600 billion of market value. That said, the rocket stock has left a massive dent of $152 billion in Elon Musk's net worth. Nonetheless, Musk continues to be the first trillionaire on earth. However, this also begs the question: Is all the excitement in SpaceX fading?

SpaceX Stock Price:

On Monday, SpaceX crashed by at least 16%, extending its three-consecutive-day decline.

On Nasdaq, SpaceX closed at $154.60 per piece, registering a 16.43% decline. SpaceX, which for a brief moment had surpassed Amazon and Microsoft's valuation, has toppled back to 7th rank with the latest m-cap at $2.036 trillion due to the steep decline.

Last week, SpaceX had plunged by 5% and 3.6% on Wednesday and Thursday. There was a trading holiday on Friday due to the Juneteenth National Independence holiday.

SpaceX's market valuation is further below its listing day. On June 12th, SpaceX had listed at $150, an 11.11% premium from its IPO price of $135 apiece. At that time, SpaceX was the sixth largest company with a market cap of $2.27 trillion. Further, SpaceX rallied for another two consecutive days to surpass Jeff Bezos' Amazon and Bill Gates-backed Microsoft for a brief period.

SpaceX became the world's biggest IPO ever with its size of $75 billion.

Now, Microsoft and Amazon have reclaimed their spots as the 4th and 5th largest companies in the world, with m-caps around $2.728 trillion and $2.504 trillion.

Why Is SpaceX Stock Falling?

According to Neil McCoy-Ward's report, Only about 4% of its shares can be traded right now, so when so few stocks chase that much demand, the swings become extreme.

Among many reasons to decline, SpaceX could also be the company's announcement for selling investment-grade bonds for the first time ever.

In a report, Morningstar said that the company on Monday confirmed plans to offer senior unsecured notes to raise cash and help pay off its existing debt. The proceeds of that raise would go toward a $20 billion bridge loan, which SpaceX originally took out to pay off debt accrued by CEO Elon Musk's xAI.

It added that the offering comes despite SpaceX confirming on Monday that it has $100.8 billion in cash and cash equivalents. Most of that comes from the more than $85 billion it raised through its initial public offering.

Ahead of its listing, Morningstar has valued SpaceX at $63 per share, a 53% discount to the IPO price.

"Our valuation is the result of mathematics more than skepticism, reflecting a wide range of possible outcomes for the company's financial future. Our probability-weighted DCF-based valuation incorporates three scenarios for the firm's most uncertain artificial intelligence business," Morningstar said on June 9, 2026.

Should You BUY SpaceX Stock?

Majority of experts are still largely positive. As per TipRanks' report, Arete Research's analyst Andrew Beale has a Buy rating and a Street-high price target of $401. While Oppenheimer's analyst Timothy Horan has a Buy rating with a price target of $250, implying roughly 35% upside.

There is also bearish side too. CFRA's analyst Keith Snyder has assigned a Sell rating on SPCX with a Street-low price target of $115, indicating more declines are underway in SpaceX.

Elon Musk's Net Worth

Due to the latest sharp selloffs, Elon Musk's net worth declined by $152 billion in the last 24 hours, as per the Bloomberg Billionaire Index. The decline of SpaceX was so intense that it offset the gains of over 1.1% in Tesla stock.

Nonetheless, Musk continues to be the first trillionaire to walk on earth. Despite the heavy losses, his net worth stays at $1.08 trillion, registering an overall surge of $456 billion year-to-date.

Moody's Ratings On SpaceX:

On June 22, Moody's assigned Baa1 ratings to Space Exploration Technologies Corp.'s (SpaceX) proposed senior unsecured notes, which will be comprised of various maturities.

In Moody's opinion, SpaceX's Baa1 issuer rating reflects the company's exceptional franchise strength as the world's leading orbital launch provider and operator of the largest low earth orbit (LEO) satellite broadband network, Starlink. The company benefits from robust and expanding recurring revenue from Starlink, which has become the primary cash flow generator and underpins improving scale, margin expansion, and diversification away from more cyclical launch revenues.

Also, strategic relevance to the U.S. government, as the primary launch provider for NASA and the Department of Defense, adds demand visibility and long-cycle contract support, while the company's ability to monetize AI compute capacity through third-party arrangements provides additional revenue diversification and downside optionality.