By Nexvoro Tech Wire
PUBLISHED MON, SEP 7, 2026 9:44 AM UTC • 6 MIN READ
Primary Journalistic Dispatch & Direct Reporting
With a market cap of $1.91 trillion, SpaceX is among the most valuable companies in the world.
SpaceX (SPCX) listed on the Nasdaq in June 2026, raising over $75 billion in its initial public offering.
Last month, New York University marketing professor Scott Galloway said Wall Street has gotten the math badly wrong on SpaceX, and he is not shy about putting a number on just how wrong.
In-Depth Developments & Factual Context
In a recent podcast, Galloway said that SpaceX shares are worth somewhere between $10 and $30.
At the time of writing, SPCX stock trades at $148, which means Galloway believes the stock could fall 80% from current levels without undervaluing the company.
"It's still crazy overvalued. I think this is a $10 to $30 stock."
Industry Impact & Strategic Analysis
SpaceX priced its initial public offering at $135 a share in the summer, giving Musk's rocket company a valuation near $1.8 trillion.
The stock then climbed as high as $225 before tumbling over 50% to $105. It has since recovered and has traded above its IPO price in the last two weeks.
Galloway argues that price action has little to do with the underlying business. He pointed to a few mechanical quirks in how the stock trades:
Forward Outlook & Market Perspective
Only about 4-5% of SpaceX shares were available for public trading right after the IPO, which limited supply.
The stock's inclusion in the Nasdaq 100 forced index funds to buy shares regardless of price.
SpaceX priced a $25 billion bond offering less than two weeks after going public, even though it was sitting on more than $100 billion in cash.
The debt sale, Galloway said, tells investors this is really an AI infrastructure bet wearing a rocket company's uniform.
"Musk will go down as the greatest engineer of our time, but as a financial engineer," Galloway said in the episode, according to Business Insider.
Given data from Fiscal.ai , SpaceX sales have grown from $10.4 billion in 2023 to $23 billion in the last 12 months.
Reporting synthesized and verified under Nexvoro.tech editorial guidelines. Full primary records referenced via Yahoo Finance.
Reporting synthesized under Nexvoro.tech Editorial Standards • Referenced via Yahoo Finance
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