SPCX hits new all-time low

$SPCX reportedly fell to a new all-time low near $145 after a sharp decline from its peak.
The stock is now down more than 35% from its all-time high of $225.
That move has erased roughly $1.07 trillion in market capitalization from the top.
The bigger signal is how quickly high-expectation names can reprice once momentum breaks.
For $SPCX, the key question is whether this is capitulation or another step in a deeper valuation reset.