SpaceX has lost over $500 billion in market capitalization since its IPO on June 12, with the stock trading more than 50% off its intraday high. The company is burning billions of dollars per quarter, with a price-to-sales ratio in the 70s and nearly twice as much debt as cash. Analysts will scrutinize AI spending and Starship development, the next-generation rocket expected to significantly reduce orbital launch costs. SpaceX generates revenue through deals including $920 million per month from Google and capacity agreements with Anthropic for its Colossus 1 data center. Price targets range from $165 to $246, reflecting significant upside potential despite current challenges.
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