Scott Galloway, a New York University marketing professor, has issued a grim forecast for SpaceX stock, saying it is worth between $10 and $30 per share, a potential 80% drop from its current trading price of $148. Galloway argues that the stock is "still crazy overvalued" and points to mechanical quirks such as limited public float and forced index-fund buying, as well as a $25 billion bond offering despite over $100 billion in cash, which he says reveals SpaceX as an AI infrastructure bet. SpaceX, which listed on the Nasdaq in June 2026 at $135 per share and now has a market cap of $1.91 trillion, has reported net losses totaling $8.2 billion over the last 12 months and burned through $31.2 billion in free cash flow. Former Fidelity manager George Noble also expects SpaceX to fall 50% by year-end, while the average analyst price target is $228, with 25 of 34 analysts recommending Buy. Galloway said he would not short the stock, citing Musk's ability to excite investors regardless of fundamentals.
Space Exploration Technologies Corp. Class A Common StockGalloway's bearish forecast and valuation critique suggest significant downside from current price.
