{"id":825,"date":"2026-06-18T20:13:04","date_gmt":"2026-06-18T20:13:04","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=825"},"modified":"2026-06-18T20:13:04","modified_gmt":"2026-06-18T20:13:04","slug":"spacex-stock-plunge-wipes-out-600-billion-after-cursor-deal-spooks-investors","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=825","title":{"rendered":"SpaceX Stock Plunge Wipes Out $600 Billion After Cursor Deal Spooks Investors"},"content":{"rendered":"<div>\n<h2>contra<\/h2>\n<p>Oppenheimer analyst Timothy Horan applauded SpaceX\u2019s deal for Cursor in a note on Thursday, claiming the acquisition could boost its shares to $250 by the end of the year, up from an earlier projection of $190. \u201cThis deal is beneficial for both sides,\u201d Horan wrote, adding that Cursor will have access to SpaceX\u2019s computing power, while SpaceX gets Cursor\u2019s AI technology, engineering talent, training data and user base. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=823\">Reddit Co-Founder Alexis Ohanian Defends UFC White House Attendance\u2014And Denounces \u2018Vile\u2019 Michelle Obama Insult<\/a><\/p>\n<h2>forbes valuation<\/h2>\n<p>A further decline in SpaceX shares reduced CEO Elon Musk\u2019s net worth by $67.8 billion to about $1.2 trillion, according to Forbes\u2019 estimates. His fortune hit a record high above $1.4 trillion amid SpaceX\u2019s three-day winning streak, and Musk still ranks well above Google cofounder Larry Page ($300.8 billion) as the richest person in the world. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=821\">Trump Again Denies U.S. Is Providing Iran With $300 Billion For Reconstruction Fund<\/a><\/p>\n<h2>key background<\/h2>\n<p>SpaceX shares skyrocketed 50% above its $135 IPO price through its three-day streak, boosted by record-setting investor demand. Morningstar analysts have warned investors about trading SpaceX shares since before its IPO, arguing the company is \u201csignificantly overvalued\u201d and that its market value is tied to technologies it claims are \u201cnovel and untested.\u201d PitchBook\u2019s Franco Granda wrote in March that SpaceX may trade similarly to Tesla \u201con steroids,\u201d as trading in Musk\u2019s automaker is often volatile among other mega-cap stocks. Other analysts have claimed SpaceX has emerged as the latest meme stock, including Swissquote analyst Ipek Ozkardeskaya, who said investors are buying SpaceX \u201cin the expectation that others will buy too and push the price higher.\u201d Ozkardeskaya argued SpaceX is \u201cburning cash,\u201d as its Starlink business has been unable to counter heavy spending on space exploration.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=819\">Georgia Rep. Mike Collins\u2014Trump\u2019s Pick For Senate\u2014Bought Up To $150,000 Of A Meme Coin Before It Crashed<\/a><\/p>\n<div><\/div>\n<h2>further reading<\/h2>\n<p><span><span>Forbes<\/span><span>SpaceX Shares Drop 6% In First Decline Since Historic IPO<\/span><small>By <span>Ty Roush<\/span><\/small><\/span><span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk\u2019s rocket firm pulled back from a rally that pushed its market value ahead of Amazon and Microsoft.<\/p>\n","protected":false},"author":1,"featured_media":824,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SpaceX Stock Plunge Wipes Out $600 Billion After Cursor Deal Spooks Investors - 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