On July 10, SpaceX declined 3.04% in regular trading, trading at approximately $147.55 per share with turnover of $16.82 billion, extending its recent downtrend.

The decline was driven by a combination of widening Wall Street valuation divergence and persistent weakness in SpaceX's credit market. Analyst target prices now range dramatically from $131 to $900, with Citi's bull-case scenario reaching $900 while independent research firm New Street Research pegs fair value at only $165. This unprecedented spread in estimates has intensified investor uncertainty about the stock's appropriate valuation.

Simultaneously, SpaceX's bond spread widened for a fourth consecutive trading day. The company's 2036 maturity bonds, issued at 1.4 percentage points above Treasuries following its $25 billion debut offering, have seen spreads rise to approximately 1.57 percentage points. This level stands notably above the roughly 0.9 percentage point spread for similarly Baa1-rated telecom issuers such as T-Mobile, Equinix, and Verizon, signaling credit market skepticism regarding the company's elevated equity valuation relative to its ongoing operating losses.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)