SpaceX (SPCX.O) is due to publish its first earnings after a high-profile IPO, an event widely watched by Wall Street and likely to prompt a re‑pricing of the stock. At Monday close the share price was $114.53, roughly 15% below the IPO price and about 50% off its June 16 peak; peak market capitalization has fallen by over $1 trillion. The company remains unprofitable and its business model is still highly speculative, so the report could raise more questions than answers. Portfolio manager Drew

SpaceX (SPCX.O) is due to publish its first earnings after a high-profile IPO, an event widely watched by Wall Street and likely to prompt a re‑pricing of the stock. At Monday close the share price was $114.53, roughly 15% below the IPO price and about 50% off its June 16 peak; peak market capitalization has fallen by over $1 trillion. The company remains unprofitable and its business model is still highly speculative, so the report could raise more questions than answers. Portfolio manager Drew Cupps said the SpaceX story is largely about the future, with many promised elements not yet realized, making it difficult to justify current valuation based on past performance.