SpaceX trades 20% below IPO price, $1.2 trillion in market cap erased

SpaceX shares have dropped twenty percent since their debut last month. Investors are avoiding riskier technology firms and AI ecosystem concerns are rising. The company has lost over one trillion dollars in market value from its peak. Geopolitical factors and spending power are impacting valuations across the industry. Upcoming lock-up expirations could further affect the stock's performance in coming months.