SpaceX stock isn’t just falling. It’s hitting every branch on the way down. After surging to a $2.6 trillion valuation on its third day of public trading, SpaceX stock has tumbled 46%, wiping out more than $1.2 trillion of that in the process. The initial wave of selling came as investors balked at lofty valuations.
In the face of SpaceX’s historic IPO, the comments from skeptics were strong. Some criticized the company’s initial valuation as too high. Others opposed what they considered fantastic ideas that would take decades to realize. Another popular narrative was that retail investors, who were granted a larger share of shares than usual, would be left
