Analysts caution SpaceX remains overvalued near its $135 IPO price despite a 45% pullback from peak levels.
SpaceX shares fell for a sixth consecutive session, extending losses to 45% below their recent peak. The decline brings the stock close to its $135 initial public offering price, though analysts argue the valuation remains elevated.
The company’s original valuation was driven by expectations for xAI, its artificial intelligence unit, alongside core businesses like Starlink and Starship. A pre-merger sum-of-the-parts analysis suggested a combined value closer to $900 billion for SpaceX and xAI.
Market sentiment has soured amid broader sector rotation and concerns over growth projections, though no immediate catalyst for the sell-off was cited.