XSPC
One-day wipeout, big enough to make Buffett a unit of measurement
Peter Schiff basically turned SpaceX into a math problem Monday: the stock dropped 16.5%, and Musk’s paper wealth shrank by about $150 billion. That’s not a typo, and yes, it’s more than Warren Buffett’s whole net worth. Casual billionaires only, apparently.
Why investors should care
This wasn’t just a weird social-media flex. SpaceX also unveiled a senior unsecured notes offering, which tells you the company is still leaning on the capital markets while its stock is taking a beating.
- The shares closed down 16.43% at $154.60.
- The company’s market value has reportedly fallen by more than $400 billion from recent highs.
- Ark Invest was still buying, scooping up 210,121 shares across four ETFs Monday.
That’s the classic two-sided SpaceX story: some investors see a long-term rocket ship, others see a valuation that’s basically strapped to a firework.
Big picture
The wild part is that none of this changes the core debate: is SpaceX an absurdly expensive hype machine, or the future of private markets with a very loud fan club? For now, the answer is both. And if you’re holding the stock, your portfolio probably has the same expression as Musk’s net worth chart: fully committed, slightly on fire.