NEW YORK — Shares of SpaceX tumbled sharply on Monday, extending a multi-day decline after the privately held rocket company disclosed plans that could involve taking on billions of dollars in new debt.

The stock drop — reported at around 16% on Monday — marks the third consecutive day of losses for the Elon Musk-led space venture. Investors appeared to react negatively to the company’s borrowing plans amid ongoing ambitious projects, including Starship development, Starlink expansion, and other capital-intensive initiatives.

While SpaceX remains a private company (with secondary market trading for shares), the disclosure of potential large-scale debt financing has raised concerns about leverage, interest costs, and the financial risks associated with its high-burn-rate operations.

Despite the share price pressure, SpaceX continues to achieve major milestones, including frequent Falcon 9 launches and rapid progress on next-generation Starship vehicles. The company has long relied on a mix of equity funding rounds, government contracts, and revenue from Starlink to fuel its growth.

Musk has previously emphasized the need for massive capital to achieve long-term goals such as Mars colonization. The latest borrowing signal suggests the company may be preparing for another round of heavy investment.

Market watchers will be closely monitoring how this debt strategy unfolds, especially as SpaceX balances innovation with financial sustainability in one of the most capital-intensive industries on Earth.