SpaceX (SPCX) Is Down 31% From Its High and Is Now Borrowing $25 Billion. Should Investors Be Worried?

SpaceX stock has fallen 31% from its $225 peak to $154 following its June IPO, and the company is now borrowing $25 billion despite raising $85.7 billion. The article raises concerns about SpaceX's steep $2 trillion valuation (price-to-sales ratio of 77), current unprofitability, heavy AI spending, and capital-intensive operations. The author recommends waiting for a much lower price before investing, citing the speculative nature of the investment and leadership concerns.