For SpaceX IPO investors, the thrill ride has been IMAX-worthy. 

On IPO day, SpaceX stock (SPCX) opened at $150 and climbed past $160. Another near-20% gain in the following trading session saw Elon Musk’s spaceflight, satellite communications, and AI company achieve a high orbit of $192.50. By its third trading day, SpaceX surpassed Amazon to become the fifth-largest publicly traded company by market value. 

To the moon, right?

Yet, as any savvy investor knows, things can get ugly fast: The stock quickly returned to Earth and has bounced below its market debut price more than once.

The stock has recently clawed back to above its $135 IPO price for the first time in nearly a month, but it is…