Is The Market Wrong On SpaceX? TheTechTalk Podcast Ep.

SpaceX aka Space Exploration Technologies Corp. reported earnings for the first time in its 24-year history earlier this week. SPCX shares have been through a whirlwind since IPOing mid-June, down roughly 27% after print as the market still figures out how to think about SpaceX. To help figure this out, we brought in two space experts to give us the industry take on SpaceX and the space economy around it: Jeff Foust and Jason Rainbow.

We're launching a new podcast series with two kinds of episodes. The first is centered on bringing industry experts to discuss specific sectors, really filtering out the noise to focus on the fundamentals. And the second is what we like to call bulls versus bears. Where we bring on two Seeking Alpha analysts with opposing views on the same tech name to talk it out. We're hoping that across both kinds of episodes, investors find added value in basically getting a better understanding of the tech that they're investing in and industry roadmap ahead in order to better position themselves in the market.

And with that said, let's dive into our first episode that's all about space, in honor of SpaceX reporting its earnings for the first time in its 24-year history. And who better to bring on than two industry veterans, Jeff Faust and Jason Rainbow?

Jeff covers space policy and commercial space with a PhD in planetary sciences from MIT and a bachelor's with honors in geophysics, physics, and planetary science from Caltech. Jason has spent over a decade covering satellite telecom, finance, and commercial markets as a business journalist.

Space has really become center stage since, I would say, last year. And then the excitement kind of went into overdrive with SpaceX's IPO in mid-June, propping up the entire sector before melting it down. I mean SpaceX itself IPO'd at about one fifty per share and then traded up over the first few days to two hundred and twenty five before melting all the way down to one hundred eight. So now in light of their earnings that happened after the bell this Tuesday, the stock is down about twenty-seven percent since that IPO.

What did the market get wrong about SpaceX through this whole process, the pre IPO, the post IPO, and then earnings yesterday?