SPCX stock falls to $150, erasing post-IPO gains amid a price-to-sales ratio of 77, far exceeding peers like Nvidia and Micron.
SpaceX (NASDAQ: SPCX) shares dropped nearly 20% over the past week, dipping below their $150 IPO price after a brief post-listing rally. The decline follows a 67% surge between June 12 and June 16, which has now fully reversed.
The company’s valuation has drawn scrutiny, with a price-to-sales ratio of 77—more than triple that of Nvidia (20) and Micron Technology (24). SpaceX remains unprofitable, leaving no price-to-earnings metric for comparison. Analysts warn the stock is priced for perfection, with little room for error.
Investors face a high-risk scenario, as any operational setbacks could trigger further sell-offs. The stock’s lofty valuation may deter buyers despite its long-term growth potential.