SpaceX loses over $1tr in market cap, drops from No. 5 to No. 8 in a month

SpaceX has shed more than $1 trillion ($1,489 trillion won) in market capitalization, sliding to eighth place among the most valuable publicly listed companies in the United States. Analysts attribute the decline to weakening growth expectations as Starship test launch setbacks continue to mount.

According to Investing.com, SpaceX closed at $119.85 on Monday, down 3.34 percent from the previous session.

The company's market cap now stands at approximately $1.59 trillion, trailing Meta Platforms at $1.64 trillion.

SpaceX ceded its market cap ranking to Meta on Monday, falling to eighth among US-listed companies. Last week, its share price dropped below its IPO price of $135 for the first time since listing, allowing Broadcom to overtake it as well.

SpaceX had climbed as high as fifth place after surpassing Amazon on June 16. It has now fallen three spots in just over a month.

Seo Sang-young, an analyst at Mirae Asset Securities, said anxiety over share supply expected after next month's earnings release weighed on the stock, compounded by Elon Musk's denial of reports that he had placed a $52 billion order for AI servers — a denial that partly walked back expectations for expanded AI infrastructure investment.

Delays in the Starship development schedule have added further pressure. A test launch was postponed July 16 after some engines failed to ignite, and a Falcon 9 rocket launch scheduled for Monday morning was also canceled.

Greg Pendy, an analyst at Clear Street Research, said Starship is "a core pillar of the connectivity and AI business," adding that "if the schedule slips, the entire growth story gets pushed back."

Meta, meanwhile, has continued to rally on AI optimism. Its share price has risen 14.7 percent so far this month. The strong reception for its new model "Muse Spark 1.1" has been followed by reports that Meta is in negotiations worth up to $10 billion to lease computing power to AI research firm Anthropic.