The Starry Eyed Fall of SpaceX: A Cautionary Tale of Valuation and Hubris The market value of Elon Musk's SpaceX has plummeted by $500 billion since its first trade on June 12, leaving investors stunned.
This precipitous drop underscores the disconnect between reality and valuation for a company that has yet to turn a profit in most of its core segments, with a staggering $1. 4 trillion market cap.
The comparison to Facebook's infamous IPO debacle in 2012 is apt. The social media giant's overinflated valuation was a result of hubris and a disregard for fundamentals.