SpaceX slides further down the ranks of large companies as it’s overtaken by Meta

SpaceX slid further in market value, dropping below Meta Platforms to become the eighth-largest U.S. company by market cap. The article says SpaceX has lost more than $1 trillion from its peak and has now fallen for seven consecutive sessions, with the stock down 21% over that stretch. The decline is tied to operational setbacks, including a scrubbed Starship test after engine ignition issues and a canceled Falcon 9 launch. The move matters for the broader megacap landscape because SpaceX had previously been ranked as high as No. 5, ahead of Amazon and near Microsoft. While Meta is benefiting from strong July gains and positive AI sentiment, SpaceX’s delays raise concerns about the pace of growth in its connectivity, AI, and launch businesses.