SPCX Space Exploration Technologies (Elon Musk) Daily Chart; SpaceX Is a Rocket Ride from 150 to 226 but then It Falls Back to Earth

Last week, SpaceX was the girl at the party that everyone wanted to dance with. This week she is a wallflower. A man was very shy because he had a wooden eye. It was time for the big community dance so he had hoped he could meet a nice girl. At the dance, he saw a young lady across the room that was sitting alone. She had a big nose. It was so big that if you stuffed it with nickels, you would be a millionaire. Nonetheless, he mustered up courage and walked over to the young lady. In a stuttering voice he asked, "Would you like to dance?" She exclaimed, "Would I! Would I!" He quickly answered, "Big nose! Big nose!"

SPCX is not the favorite flavor this week; it is a dud. The rocket ship took off for the moon on 6/12/26 opening at 150 on the dot above the 135 base price. Everything was groovy all the way to 226 on 6/16/26 last Tuesday. After that, the space ship falls back to Earth trading in the premarket right now at 150 the opening price on 6/12/26. From 226 to 150 is a -34% crash in SPCX in the last 4 trading days. $600 billion in market value is vaporized.

149.34 is its low price so watch that number closely going forward. There is likely far more pain if that fails and perhaps a test of 135. That would be catastrophic if it failed. The market makers may be obligated to try and hold 150 so the banks may be buying the dud today.

SpaceX is a company that loses money. Any one buying it is buying Elon's hopes and dreams whether they understand this or not. As they say in the Bronx, "Good luck wit dat." If you keep your feet on the ground, terra firma, SPCX is probably worth about $65 so it sits at about double what it is actually worth.

You wonder if the SPCX ticker will be confused with SPCE that is Virgin Galactic when traders go to buy or sell. Years ago, Ford Motor company, that is symbol F, would be confused with a company that had the ticker FORD. There is a double-leveraged (2x) ETF for SPCX named SPCH. It flamed out dropping from 28 to 12 in the last 4 days. If you got caught up in the SpaceX hype and bot last week, you lost one-half and more of your money this week; you are wearing a barrel crying in your beerski.

Good luck to SpaceX but there is a tough road ahead. Space Oddity. Ground control to Major Tom. Take your protein pills and put your helmet on. Ground control to Major Tom. Your circuit's dead, there's something wrong. Can you hear me Major Tom? This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

Note Added 4:54 AM EST: SPCX collapses to 147.70. A global tech selloff started in Asia last night and is cascading around the world. There is not enough money available going forward to push all the tech garbage higher. Perhaps it is a dotcom bubble redux; is the AI bubble bursting?.

Note Added 5:56 AM EST: SPCX is at 150.00 on the dot. The banks involved in the IPO are likely trying to hold the line at 150.

Note Added 10:24 AM EST: SPCX is at 154. No surprise.