With the 16% drop in trading this Monday, 22nd, on the Nasdaq, Elon Mush’s aerospace company fell one position and now occupies seventh place, according to the Companies marketcap website. The post was dethroned by Taiwanese chip manufacturer TSMC.
It was the third consecutive drop in shares of the company that had a stellar initial public offering and comes on the heels of two announcements.
SpaceX announced today the start of a private offering of senior unsecured notes aimed at qualified institutional investors in the United States and international investors, in an operation that will mark the company’s debut in the debt securities market. Last week, the company also announced the acquisition of the developer of Cursor.
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The operation takes place after the company received investment grade approval from three of the main credit risk assessment agencies last week, given the lack of competitors capable of replicating its activities, which obscures the execution and financial risks involved in its business.
