SpaceX falls 20% from its issuance price, with its market value evaporating by $1.2 trillion from its peak.

Due to investors flocking to safe-haven assets and no longer favoring high-risk tech companies, SpaceX (SPCX.O) stock has fallen 20% from its IPO price. SpaceX fell more than 5% in early trading on Tuesday, to about $107, continuing its sharp decline from its peak just days after its IPO last month. Its market value has evaporated $1.2 trillion from its June 16 peak, setting one of the largest market value evaporation records in history. Recently, complex geopolitical situations and concerns about supply-demand and valuation inflation driven by massive spending in the AI ecosystem have hit many large companies in the sector hard. SpaceX investors are also watching the potential impact of the lifting of the lock-up period for $116 billion worth of 911.5 million shares on August 6.