SpaceX stock cools after IPO surge as bond-financing chatter heats up

SpaceX’s SPCX fell up to about 10% for a second day after breaking a three‑day win streak, as broader markets paused and reports emerged that the company’s bankers are preparing to discuss a potential $20 billion investment‑grade bond issue to refinance a 2027 bridge loan. The stock had surged on its IPO last Friday, fueling a retail‑led rally, and observers question whether the momentum can sustain the high valuation, with SpaceX being likened to a Magnificent Seven member.