The Financial Post reports in its Wednesday edition that SpaceX shares erased one-fifth of their value since the much-hyped debut of Elon Musk's rocket, satellite and artificial intelligence company, as investors shunned riskier technology firms. A Bloomberg dispatch to The Post says the stock closed Tuesday at $116.41 a share in New York, well off its $135 initial public offering price (all figures U.S.). The company has now shed more than $1.2-trillion in market value from the June 16 peak in one of the largest market capitalization wipeouts in history. A volatile geopolitical backdrop paired with concerns surrounding the spending that is powering inflated demand and valuations across the AI ecosystem has hammered many of the industry's largest companies in recent weeks. SpaceX investors are also weighing the potential impact of releases from the unusual staggered lock-up arrangement over the coming months with as many as 911.5 million shares available for trading on Aug. 6. SpaceX's lofty valuation and preparations for a wave of potential selling pressure has drawn a swarm of short-selling investors over the past month. Roughly 30 per cent of the shares currently available for trading are being sold short.