- SpaceX shares currently trade at $142, well above Galloway's $10-$30 valuation estimate
- Galloway suggests SpaceX shares could drop between 78% and 93% from current prices
- SpaceX's IPO priced shares at $135, valuing the company around $1.8 trillion
Marketing professor and investor Scott Galloway believes that the shares of Elon Musk-led SpaceX are trading way more than its actual value despite a sharp decline from its peak levels.
Speaking on his podcast titled “The Prof G Pod”, Galloway said that SpaceX shares were worth between $10 and $30. The shares were trading at $142 a piece by 9:32 am ET during Wednesday's trading session. His lower estimate of $10 suggests that the SpaceX shares indicate a downside of 93%, while the upper estimate of $30 reflect mean that the shares were worth less than 78% from their current price.
"It's still crazy overvalued," Galloway said, adding "I think this is a $10 to $30 stock."
In its initial public offering last month, SpaceX shares were priced at $135 per share, marking a valuation of around $1.8 trillion. The stock soon jumped to $225 and later fell nearly 45% to $123. The shares recovered and traded more than its IPO price in the recent trading sessions.
According to Galloway, SpaceX's valuation was partly boosted by unusually favourable market dynamics. With only around 4–5% of its shares initially available for public trading, limited supply helped support the stock price. Its inclusion in the Nasdaq-100 also generated additional buying from funds that track the index, he said.
Citing the satellite company's inclusion in Nasdaq 100, he said SpaceX CEO Elon Musk will “go down as the greatest engineer of our time, but as a financial engineer."
These remarks comes days after Elon Musk said that the company now expects to hit $1 trillion in annual revenue by 2030, a full year earlier than previously projected. This is after demand for artificial intelligence infrastructure and Starlink services gathered pace through the first half of 2026. Speaking during the company's second-quarter earnings call, Musk said the revised timeline reflects stronger-than-expected momentum across SpaceX's three core businesses, that is, Starlink, AI infrastructure and launch services.
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