SpaceX’s stock price fell sharply for three consecutive days following its announcement to issue investment-grade bonds. The company, led by Elon Musk, saw its share price drop by 16 percent on Monday to close at $154.60, marking its lowest level since trading began. Over the three-day period, SpaceX’s shares declined by a total of 23 percent, erasing more than $600 billion in market value. Despite the losses, the company remains the world’s sixth-largest by market capitalization, now slightly above $2 trillion.

The sell-off followed SpaceX’s plan to raise at least $20 billion through its first bond issuance to fund its artificial intelligence ambitions. The company also signed a multibillion-dollar deal with AI startup Reflection AI to provide computing resources. Analysts noted that while SpaceX continues to lead in space-launch and related sectors, much of its long-term value is already reflected in its current share price.

Retail investors have shown strong interest since the record $75 billion IPO, purchasing $405 million worth of shares in the first five trading days, though inflows slowed this week.