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Scott Galloway estimates SpaceX stock value at $10 to $30 despite current market capitalization exceeding $2 trillion

SpaceX shares recently breached the $150 mark, bringing the company's market capitalization to just over $2 trillion for the first time in nearly two months. However, Scott Galloway, a marketing professor at New York University, argues that the stock is significantly overvalued. Galloway stated that SpaceX shares are worth between $10 and $30, suggesting the stock could fall by 80% from its current price without undervaluing the company. This bearish outlook aligns with several financial metrics. SpaceX reported a net loss of $4.9 billion in 2025 and a total net loss of $8.2 billion over the last 12 months. The company is currently experiencing a negative operating margin of -16.2% and a negative net margin of -32%. The high capital expenditure is driven largely by AI compute infrastructure, with $15.8 billion spent in a single quarter on AI compute. Despite the gap between Galloway's estimate and the market price, the stock remains in a growth phase. The company's AI segment is a primary long-term growth driver, and Starlink added 1.7 million net new subscribers in the most recent quarter. Analysts generally maintain a bullish outlook, with 25 out of 34 analysts recommending a 'Buy' rating.

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