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SpaceX Shares Fall 7.8% After $20B Debt Issuance, Dragging U.S. Space ETFs in South Korea Lower

GateNews
Stocks
According to Korea Economic Daily, SpaceX shares dropped 7.8% to $157.54 on July 1 following the company's announcement of a $20 billion corporate bond issuance, triggering widespread declines across domestic U.S. space-related ETF holdings in South Korea. As of July 2, Korean Investment Trust's ACE U.S. Space Tech Active fell 19.3% over the past month, Samsung Asset Management's KODEX U.S. Aerospace dropped 17.82%, and Mirae Asset's TIGER U.S. Space Tech declined 32.35%, all holding SpaceX positions of 20-32%. SpaceX's volatility has been pronounced since its June 12 IPO at $135 per share; the stock initially surged to $225.64 during trading but has since retreated sharply. Analysts remain constructive; Wedbush Securities analyst Daniel Ives maintains a Buy rating with a 12-month price target of $190, citing SpaceX's vertical integration across rocket launches, Starlink satellite internet, and computing infrastructure.
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