SpaceX shares have cratered 48% from their $135 IPO price, yet at 85 times price-to-sales the stock remains one of history's most expensive large-cap companies. Hedge fund veteran Whitney Tilson warned against bottom-fishing, citing a valuation of 92 times trailing revenues. The stock surged an unexpected 16% on a day when a new block of shares hit the public market, exposing extreme volatility that makes chasing the latest dip treacherous. SpaceX, currently valued at $1.76 trillion, faces a wide range of analyst targets from $75 to $800 per share.
