SpaceX Declines for a Third Day After Announcing Bond Sale (2)

SpaceX shares slipped for a third straight day after the Elon Musk-led company said it is selling investment-grade bonds for the first time, part of what’s expected to be a massive borrowing spree to fund its artificial-intelligence ambitions.

The stock fell as much as 10% Monday morning in New York. The drop follows a retreat of more than 8% over Wednesday and Thursday, before the US market closed Friday for the Juneteenth federal holiday.

SpaceX’s first days of trading following its record $75 billion initial public offering were met with the type of volatility generally associated with new ...