SpaceX Sank Today -- Is the Stock a Buy Right Now?

SpaceX shares dropped 5% today in the company's first decline since its June 12 public debut, though the stock still trades 42% above its IPO price. The pullback comes as investors weigh the company's premium valuation against its growth trajectory.

The space exploration firm posted 33% revenue growth in 2025, and CEO Elon Musk has set a $1 trillion revenue target for 2030. But the stock currently trades at 135x sales, a steep multiple that has some analysts advising caution. The valuation disconnect suggests the market may have priced in aggressive growth expectations following the strong post-IPO rally.

The company's near-term fundamentals remain solid, with revenue expanding at a robust pace. However, at current multiples, any stumble in execution or slowing momentum in contracts could trigger sharper corrections. Patient buyers may find more attractive risk-reward ratios on future weakness.