Space Exploration Technologies shares have fallen 34% from their all-time high of $225.64 reached on June 15, when the company's valuation peaked at around $3 trillion. The decline follows a successful IPO that raised $85.7 billion and a scaled-up $25 billion bond offering, leaving many investors underwater. Despite the drop, SpaceX is armed with capital, especially after its $60 billion acquisition of AI tooling start-up Cursor was paid for in stock. Analysts expect the company to focus on scaling its already profitable Starlink internet division and its rocket business, while more ambitious projects like lunar manufacturing and a Mars city remain long-term goals, mirroring the step-by-step growth strategy Elon Musk outlined in his 2006 'Secret Tesla Motors Master Plan.'
