SpaceX loses $1T from last month’s peak

$SPCX has reportedly lost around $1 trillion in market value since hitting an all-time high last month.
That kind of drawdown shows how quickly high-expectation space and tech names can reprice when momentum breaks.
For SpaceX, the long-term story around Starlink, launch dominance, and space infrastructure remains massive.
But the market is now forcing investors to separate the vision from near-term valuation risk.
The key question is whether this is a reset after excessive hype or the start of a deeper de-risking cycle.