OREANDA-NEWS The market value of SpaceX dropped by $400 billion in a day. This is reported by RIA Novosti with reference to the auction data.

During the day, the securities of Elon Musk's space company fell in price by 16.43 percent. They fell in price from 185 dollars to 154.6 dollars, which led to a loss of capitalization of 400 billion. The company's value dropped from $2.437 trillion to $2.037 trillion.

After the rally that followed the largest IPO in history (initial public offering on the stock market), SpaceX broke into the top four most expensive companies in the world, surpassing Amazon and Microsoft, but on June 17, its quotes began to fall.

Investor Michael Bury, known for his accurate predictions of stock market crashes, did not invest in Musk's shares, and also questioned their capitalization, which reached almost three trillion dollars. The expert clarified that he has nothing to do with "either short-term or long-term investments" in SpaceX. According to him, we are talking about a "niche telecommunications company that generates less than $20 billion in annual revenue."