SpaceX Closes Below $120 After Seven Consecutive Declines, Triggering AI Valuation Bubble Concerns

SPCX6.77%
According to Bitcoin.com News, SpaceX (NASDAQ: SPCX) closed below $120 on July 20 after seven consecutive losing days, falling more than 11% below its $135 IPO price and roughly 47% from its post-listing peak of $225.64. The decline has erased over $1 trillion in market value. Economist Peter Schiff cited SpaceX's weakness alongside Moonshot AI's competitive Kimi K3 model as evidence that premium AI valuations are unsustainable, stating "AI stocks are in a bubble that has likely already popped." The emergence of lower-cost Chinese AI alternatives is intensifying pressure on U.S. AI companies' premium pricing models, though ARK Invest purchased over $18 million of SpaceX shares during the decline, indicating some institutional investors view the lower prices as an opportunity.
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