What the drop means for SpaceX investors

At $115.26, SPCX sits roughly 15% below the $135 IPO price and approximately 49% off its intraday peak of $225.64, reached on June 16 in the euphoria following the public debut. The stock has shed about 26% over the past month, a stretch that coincides with the Starship abort, news of the August lock-up, and broader profit-taking in high-multiple growth names.

With a market cap near $1.52 trillion and 2026 revenue estimates not yet published, the company trades at a valuation that leaves little room for execution missteps. Motley Fool analysts, writing Wednesday, noted that SpaceX’s valuation at peak implied roughly 64 times price-to-sales, a multiple that compresses quickly when sentiment shifts.