SpaceX Stock Is Down 50% From Its Peak. Here's 1 Reason to Buy the Dip, and 1 Reason to Run for the Hills.

SpaceX has fallen 50% from its $225 peak to $110 following its June IPO, driven by valuation concerns despite strong fundamentals. The company generated $7.8B in Q2 2026 revenue (92% YoY growth) across space transportation, satellite connectivity, and AI infrastructure businesses. While SpaceX's AI business is rapidly growing with $6.7B in new contracts, its current P/S ratio of 65 appears overvalued compared to the Nasdaq-100's 6.4. The stock may be worth waiting on until the company proves it can achieve its projected $100B AI revenue run rate by end of 2026.