SpaceX Stock Faces Tesla-Style Crash Fears as $3 Trillion Valuation Sparks Debate

SpaceX stock is drawing crash warnings days after its record Nasdaq debut. Traders are comparing SPCX to Teslas volatile 2010 listing as the company nears a $3 trillion valuation. The parallel has split market watchers. Some expect a steep correction once selling pressure builds, while others argue a tiny public float could keep prices elevated for months. Tesla (TSLA) and SpaceX (SPCX) Stock Performances Post IPO. Source: TradingView A record debut at a stretched valuation SpaceX priced its shares at $135 on June 12 and raised about $75 billion, eclipsing Saudi Aramcos $25.6 billion in 2019 to become the largest IPO in history. The debut instantly ranked it among the most valuable US companies. SPCX has since climbed past its earlier opening level, trading roughly 56% higher near $213.95 as of this writing. Prediction market Kalshi said SpaceX touched a $3 trillion valuation in after-hours trading on $18.7 billion in 2025 revenue. BREAKING: SpaceX reached a $3 trillion valuation in after-hours tradingThe company's revenue in 2025 was $18.7 billion Kalshi Finance (@Kalshi_Finance) June 16, 2026 That multiple dwarfs the levels from the stocks earlier $2 trillion debut and exceeds anything Tesla carried at listing. Why Some Traders See a SpaceX Stock Crash Analyst Ted Pillows summed up the bearish case, framing SPCX as a replay of Teslas early path. Another widely shared post claimed Elon Musk ran the identical playbook at Teslas 2010 listing. ELON MUSK PULLED THIS SAME MOVE 16 YEARS AGOLook at this closely:Tesla IPO (2010) pumped hard, then dropped 70% over the next few monthsMost people only remember what happened years laterSpaceX IPO (2026) just ran the exact same opening moveElon has done this once pic.twitter.com/cU2zMxJFmV bee🐝 (@0xbeehive) June 16, 2026 The record is messier than the meme. Tesla closed its first day 40.5% above its $17 offer price. It roughly doubled within months, then shed almost a quarter of its value in weeks. The stock ended 2011 up just 7.3%, with no single 70% collapse before its later 300-fold climb. SpaceX $SPCX is following the Tesla $TSLA route. An initial pump of 60%-70% followed by a brutal 50% crash, Ted Pillows wrote. Investor Jo Bhakdi expects downward pressure from August, citing the thin float, forced index buying, and a valuation near 90 times 2026 revenue. CNBCs Jim Cramer echoed the unease, saying he likes the company but dislikes watching a meme-style climb with almost no sellers. Maybe it's okay to you, but I would hate to see a meme stockwhat SpaceX stock has becomewalked to the size of Nvidia over a series overnight moves with no sellers. But that seems to be the goal. Maybe early release of those who want to go?? I am uncomfortable watching a stock Jim Cramer (@jimcramer) June 16, 2026 The Case for a Longer Squeeze Conversely, others warn that betting on a crash misreads the supply. Investment adviser Thierry Borgeat argued that the same scarcity driving overvaluation also shields the price. Yes, the stock is expensive on every traditional measure But price doesnt fall just because it should. It falls when sellers outnumber buyers Scarcity cuts both ways, CFA Borgeat noted. Demand has been intense. Bloombergs Eric Balchunas noted the number of ETFs holding SPCX jumped from four to about 120 in days. With insiders locked up and retail reluctant to sell, buyers still outnumber sellers, much as they did while Teslas lofty valuation drew skeptics years ago. The first real test arrives in August, when early lock-up expirations could finally add supply. Until then, SpaceX stock looks set to trade on scarcity and sentiment rather than fundamentals, even as Musks soaring net worth keeps the spotlight bright. Read the article at BeInCrypto