The stock dropped as much as 7.3%, after rising as much as 6% earlier in the session. Even so, shares remained nearly 50% above their $135 IPO price. The decline threatened to push SpaceX back below Amazon in the rankings of the world’s most valuable companies.

“Long story short, I think this is just noise so far,” said Michael Monaghan, partner and portfolio manager at Founder Funds, which owns SpaceX shares. “If it really got hit more, we’d probably add.”

Analysts attributed the sharp swings partly to SpaceX’s limited free float, with only about 4.2% of shares available for trading at the IPO. The expiry of insider lockups in the coming months could add downward pressure as more shares enter the market.

“Perhaps we’re seeing a rotation from one Elon-linked trade into another, with SpaceX increasingly viewed as the cleaner AI and tech exposure,” Vanda said in a note.

Live Events

MELBOURNE — New South Wales has the chance to regain the men’s State of Origin shield when it takes a 1-0 series lead into Game II against Queensland at the Melbourne Cricket Ground on Wednesday evening, with the Blues aiming to clinch the series and deny the Maroons a decider on home soil.

The highly anticipated interstate rivalry returns to Victoria for the second match of the 2026 series, with NSW coach Laurie Daley making several changes due to injuries while Queensland coach Billy Slater maintains a largely similar lineup. The Blues enter with momentum after a strong Game I performance, but Queensland remains a dangerous opponent capable of forcing a decisive third match in Brisbane in three weeks.

State of Origin Game II is scheduled to kick off at 8:00 p.m. AEST at the MCG, with live coverage available across major Australian networks and streaming platforms. Fans can follow real-time updates, statistics and radio commentary as two of rugby league’s fiercest rivals battle for supremacy.

NSW Team Changes and Strategy

Daley has been forced into adjustments after injuries to centre Stephen Crichton and Penrith’s Casey McLean. Tolutau Koula shifts from the wing to centre, partnering Kotoni Staggs, while Mark Nawaqanitawase makes his Origin debut on the wing. Mitchell Moses returns to five-eighth after missing Game I, with Ethan Strange moving to the bench.

Dylan Lucas earns his Origin debut in the second row, and Payne Haas returns from injury to start at prop. Apisai Koroisau and Jack Bostock join the bench. The Blues will rely on Nathan Cleary’s leadership at halfback and a strong forward pack to control the middle and create opportunities for their backline.

NSW’s Game I victory demonstrated their attacking flair and defensive resolve. With home advantage at the MCG and a series lead, the Blues will look to apply early pressure and capitalize on Queensland’s mistakes. Daley has emphasized the importance of maintaining intensity for 80 minutes, knowing Queensland’s ability to fight back in big matches.

Queensland Lineup and Approach

Slater has kept changes minimal, with Max Plath dropping to the bench, Reuben Cotter moving to lock, and Briton Nikora starting in the second row. Reece Walsh and Murray Taulagi replace injured or dropped players, adding dynamism to the backline.

The Maroons will rely on experienced leaders like Cameron Munster, Harry Grant and Tino Fa’asuamaleaui to inspire a response. Slater’s side is known for its resilience and ability to perform under pressure, particularly when facing elimination scenarios. Queensland’s focus will be on neutralizing NSW’s attacking threats while exploiting any fatigue in the Blues’ forward pack.

The Maroons’ Game I loss highlighted areas needing improvement, particularly in defensive structure and finishing. Slater will demand a more disciplined performance, with set-piece execution and counterattacking speed key to keeping the series alive.

Historical Rivalry and MCG Significance

The State of Origin rivalry remains one of Australian sport’s greatest spectacles, blending intense competition with state pride. NSW leads the all-time series, but Queensland has produced memorable comebacks. Playing at the MCG adds another layer, with the venue’s history of hosting major events creating an electric atmosphere for players and fans.

Victoria’s neutral ground status often produces high-quality, hard-fought matches. Both teams have strong supporter bases in Melbourne, ensuring a passionate crowd that will add to the occasion. The MCG’s large capacity and excellent facilities provide the perfect stage for Game II.

Key Players to Watch

For NSW, Nathan Cleary’s creativity and goal-kicking accuracy will be crucial. James Tedesco’s leadership at fullback and the forward pack led by Payne Haas and Isaah Yeo provide the platform for success. Kotoni Staggs and Tolutau Koula’s centre partnership offers strong attacking potential.

Queensland’s hopes rest heavily on Cameron Munster’s playmaking and Kalyn Ponga’s attacking threat at fullback. Harry Grant’s hooker work and Tino Fa’asuamaleaui’s forward dominance will be vital in winning the battle up front. Reece Walsh’s inclusion adds speed and unpredictability to the backline.

Tactical Outlook and Predictions

NSW is favored to secure the series with a strong performance at the MCG, but Queensland’s pride and desperation make them dangerous. The Blues will likely aim for early dominance through forward pressure and structured attack, while the Maroons will look for opportunities on the counter and through set-piece plays.

Weather conditions in Melbourne could influence tactics, with potential rain favoring forward battles. Both coaches have prepared their teams for a physical contest, with fitness and discipline expected to play major roles in the outcome.

A NSW victory would secure the series and provide bragging rights, while a Queensland win would force a decider in Brisbane, keeping the rivalry alive for another match. The result will have significant implications for player confidence and future selections.

Broader Context in Rugby League

State of Origin remains the pinnacle of domestic rugby league, showcasing the best talent Australia has to offer. The 2026 series has already delivered excitement, and Game II promises more as both teams fight for supremacy. The outcome will influence perceptions heading into the NRL season and international competitions.

For players, Origin selection and performance carry career-defining weight. Young debutants like Nawaqanitawase and Lucas have the opportunity to make their mark, while veterans like Tedesco and Munster aim to add to their legacies.

The MCG’s hosting reinforces Victoria’s growing importance in the rugby league calendar, bringing the sport to new audiences and strengthening its national footprint.

As kickoff approaches, anticipation builds for what promises to be a memorable State of Origin clash. NSW seeks to capitalize on its series lead and home-state advantage in Victoria, while Queensland fights to keep its title hopes alive. The MCG will provide the backdrop for another chapter in one of Australian sport’s greatest rivalries.

Ford Motor Company and NASCAR are revving up a new tribute to U.S. service members and military families.

The companies are joining forces during America’s 250th anniversary year to launch a military-focused campaign anchored by a new Veterans Day race and a limited-edition Super Duty Proud to Honor package that will support Blue Star Families, a nonprofit serving military and veteran families.

Ford and NASCAR are unveiling the campaign Wednesday during a tribute event aboard the USS Midway in San Diego, where they will be joined by actor and Marine Corps veteran Rob Riggle, Blue Star Families, Zac Brown Band and more than 1,500 members of the local military community.

Nick Ford, director of corporate strategy at Ford Motor Company and the great-great-grandson of Henry Ford, told FOX Business the effort builds on the automaker’s long history of supporting those who serve.

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A graphic promotes Ford, Ford Racing, NASCAR and Blue Star Families’ “Proud to Honor” event celebrating military families, featuring a special performance by Zac Brown Band and guest host Rob Riggle at the USS Midway Museum in San Diego. (Ford Motor Company)

“From day one, supporting the military community has been a huge priority for us,” Nick Ford said. “… We have always tried to show up for our country and for those who serve.”

At the center of the campaign is the “Proud to Honor Veterans Day Classic,” scheduled for Nov. 11, 2026.

The first-of-its-kind race will feature Ford Mustang Dark Horse R race cars and Ford Racing drivers in a tribute honoring all six branches of the U.S. military. The event will also include a concert headlined by Zac Brown Band, with additional performers expected to be announced.

Nick Ford said the company wanted to bring together its racing business and its military support efforts as the U.S. marks its 250th anniversary.

“It is going to be a really special day,” Nick Ford said.

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Tim Clark, executive vice president and chief brand officer at NASCAR, told FOX Business the partnership reflects a shared commitment between the racing organization and Ford to recognize military families and veterans.

“Being able to put a marquee event on a holiday like that… that’s kind of core to [what] NASCAR is,” he said. “… I think it’s a great way to bring that community together.”

Ford is also using the campaign to debut a limited-edition Super Duty Proud to Honor package, available on F-250, F-350 and F-450 models. 

The trucks will feature red, white and blue styling, darkened exterior trim and black wheels, with a portion of proceeds going directly to Blue Star Families.

TRUMP ADMINISTRATION TAPS AUTOMAKERS TO BOOST WEAPONS PRODUCTION IN WWII-STYLE PUSH

Ford and NASCAR are unveiling the campaign during a tribute event aboard the USS Midway in San Diego. (K.C. Alfred / The San Diego Union-Tribune via Getty Images)

Later this week, Ford Philanthropy will host a Ford Driving Skills for Life program for local military teens, focused on helping young drivers build critical safety skills behind the wheel.

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The announcement follows another Ford campaign tied to the nation’s 250th anniversary.

Earlier this year, the Michigan-based automaker launched its “American Value. For American Values” campaign, offering employee pricing to all U.S. customers on most new 2025 and 2026 Ford and Lincoln vehicles through July 6.

This article was written by

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