Down 30% From Its High, Is SpaceX Stock a Buy Now?

SpaceX shares fell roughly 30% from their all-time high after an early IPO pop and a later slump tied to the company announcing a bond issue to raise more capital. The stock initially traded at $150 and reached an intraday peak of $225.64 within days, before hype cooled. Despite a modest rebound, the company was still down about 30% as of Thursday. SpaceX’s business is driven mainly by Starlink broadband satellite connectivity, while rockets account for about 22% of revenue and 11% of profits. In 2025, SpaceX generated $18.7 billion in revenue but posted a $4.3 billion net loss, trading at 111 times sales on a $2.08 trillion market cap. Analysts expect $36.9 billion in 2026, implying 56 times forward sales.