Musk’s SpaceX Tumbles Back to Earth

It seemed to be only good news for Elon Musk and investors in companies he oversees.

SpaceX had marked a record-setting IPO, Musk was the first trillionaire in history, and the rocket company vaulted to an all-time high of more than $225 per share.

That was last month. Since then, their fortunes have shifted. Musk has shed hundreds of billions in wealth, demoting him from trillionaire status, and SpaceX’s stock price has been cut practically in half. On top of that, electric vehicle maker Tesla has lost more than 18 percent of its value over the past week, in part after falling short of its quarterly earnings expectations, as investor patience for its artificial intelligence and robotics bets has worn thin.

Please select this link to read the complete article from The Washington Post.