SpaceX has kicked off its inaugural bond sale, seeking to raise $20 billion just days after its record-breaking IPO, which valued the company at $86 billion. Despite reporting a substantial cash reserve of $100.8 billion, the announcement of this debt financing has led to a significant decline in its stock, with shares dropping by as much as 16%. Analysts have raised questions about the necessity of this move after such a successful initial public offering, especially as the company faces scrutiny over its valuation. SpaceX has received investment-grade ratings from leading agencies, but market reactions indicate skepticism in response to the bond offering.