SpaceX shares have plummeted nearly 50% from their all-time high of $225.64 reached on June 16, now trading between $110 and $115, approximately 20% below their IPO price of $135. On August 6, up to 911.5 million shares held by employees and early investors will become eligible for sale, which could intensify selling pressure. Despite this decline, Morgan Stanley maintains a $300 price target, valuing the legacy space business at $100 per share and seeing upside potential from artificial intelligence operations, including xAI, acquired in February for $250 billion. The bank forecasts AI-related revenues of $190 billion by 2030.
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