SpaceX Stock (SPCX) Slides to $145: Shares Drift Back…
By Tobi Opeyemi Amure
AI summary of the source article
SpaceX stock closed down 2.25% at $145.23, remaining 7.58% above its June IPO price. Meanwhile, Fitch maintained the company's BBB+ rating and cut its leverage forecast to 1.0x by 2027 despite a $40 billion equipment lease.
Why it matters
Fitch said the BBB+ rating would be unaffected by the binding commitment to the roughly $40 billion master finance lease, because the transaction funds compute capacity already inside its June forecast.
Key facts
- SpaceX stock closed Wednesday at $145.23, which is 7.58% above its $135 IPO price and 35.6% below its peak of $225.64.
- Fitch affirmed its BBB+ rating and reduced its EBITDA leverage forecast to 1.5x at year-end 2026 and about 1.0x in 2027, leaving the $40 billion master finance lease out of debt.
- An unlock released up to 1.3 billion shares on 22 October, with an additional tranche of up to 797.6 million shares scheduled for release in early December.
Source excerpt · FinanceFeeds
SpaceX stock (SPCX) closed Wednesday at $145.23, down 2.25% from $148.58, with an intraday low of $142.13 and volume of 96.9 million shares against a 103.2 million average. That leaves the shares 7.58% above the $135 price at which the June listing was sold, and 35.6% below the $225.64 high set four days after it. Fitch published a commentary that morning cutting its leverage forecast for the comp…