this post was submitted on 22 Jun 2026
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It's down to $154 as of 2026-06-22, 4PM EDT, which is still higher than the IPO. But analysts called the IPO a bear price anyway. It's a bad time to buy.
I'd say wait until the market comes to its senses and SPCX makes its correction, but currently much of the whole Stock Market is overvalued based on futures. Meanwhile rich people are investing in gold and bonds.
According to How Money Works, OpenAI and Anthropic are going to soon make their IPO and Alphabet is going to do a revision thing (that I don't fully understand) so there's going to be a lot of extra supply for those wanting to buy brand new stocks. Also, US Bonds are being offered at a higher interest deal. So there are a lot of circumstances that suggest SPCX is not going to retain its high value.
Also, as has been covered before, SPCX is losing money, is $20 billion in debt, and its valuation is based on some super long term promises like a Mars colony (of one million people, not just a manned mission) and data centers in orbit. Making fat promises that don't get fulfilled is part of Musk's shtick. He's confidence-gamed his way to his trillion.