What Happened
Tech Giant's Weak Forecast Hits Space Exploration Company
SpaceX has lost over $400 billion in market value since October 6, with shares falling below $2 trillion in valuation. The decline follows the expiration of a major share lockup and comes amid concerns over Intel’s weak forecast, Starlink scrutiny, and potential regulatory hurdles for a reported SpaceX-Tesla merger. Intel’s weak earnings report triggered a global semiconductor selloff, with Nvidia, AMD, and other chip stocks declining. The news was first reported by The Economic Times.