Topline
Elon Musk on Wednesday lost his trillionaire status as sliding SpaceX shares lowered his fortune by more than $50 billion, the latest stock decline for the rocket maker despite newfound optimism from one of the best-known analysts of Musk’s Tesla.
A well-known analyst of Musk’s Tesla offered a bullish take for the rocket maker.
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Key Facts
Shares of SpaceX dropped 7.1% as of Wednesday afternoon, a reversal from the nearly 12% jump over the three previous trading sessions.
Another decrease in SpaceX’s share price cut Musk’s net worth by $57.8 billion to $995.2 billion, as Musk holds 4.8 billion SpaceX shares and another 350 million stock options with an exercise price of $8.40 per share.
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