SpaceX Falls, BlackRock Jumps, PayPal Rallies

Today's biggest winners and losers in the stock market, a look at the notable movers:
On this episode of Stock Movers:

- SpaceX (SPCX) shares fell to their lowest level since the company went public, breaking below the $135 per share level that it sold them to investors at last month. The stock's fall puts shareholders in the red at an early stage, which can be a blow to confidence that some newly-listed firms don’t recover from. There could be more pain ahead as the first of many share lockups are set to expire once the company reports its first set of quarterly results, which could lead to more downside pressure for stocks.

- BlackRock (BLK) shares are rallying as much as 8.3%, the biggest intraday gain since April 2025, after the asset manager reported assets under management that beat the average analyst estimate. Adjusted earnings per share and net inflows also came in above expectations. Evercore ISI said it was a “strong quarter with almost everything going right.”

- PayPal (PYPL) shares are surging as much as 16% Wednesday, the most on record, after Reuters reported Stripe and private equity company Advent ​International have made a joint offer to ‌buy PayPal for $60.50 per share, valuing the payments firm at more than $53 billion.

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