Watching SpaceX Fall: Waiting for $40–$60
The hype surrounding the world's biggest IPO is officially wearing off. SpaceX has already plummeted 50% from its post-IPO peak of $225, and it appears to have plenty of room to continue falling. Personally, I am keeping my hands in my pockets until it hits a realistic buy price in the $40–$60 range.
Why is it dropping?
1. The Elon Musk Premium Is Deflating: The initial launch was pumped full of retail overhype, but the market is finally separating the vision from the actual numbers.
2. No Record of Profitability: For all the headlines, SpaceX is still fundamentally unprofitable, bleeding a net loss of $4.9 billion last year.
3. One of the Most Shorted in the World: The bears are piling in heavily. Short sellers have wagered a massive $24.6–$26 billion against SPCX, with short interest making up over 34% of the tradable float
