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SpaceX shares pull back after $60 billion all-stock Cursor deal as inverse ETFs surge

SpaceX said it will acquire AI coding startup Cursor in a $60 billion all-stock deal, implying roughly 3.4% dilution for existing shareholders. Morningstar cut its fair value estimate to $62 from $63 on dilution concerns, while noting stronger AI monetization could support upside. The selloff has lifted inverse ETFs built to profit from declines in SpaceX shares. The move is being watched as an initial stress test for investors in SpaceX-linked products, including space-focused and thematic ETFs.
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