US Stock Market Move | SpaceX(SPCX.US) opened with a drop of more than 5%, falling a total of 10% over the last two days.

On Thursday, SpaceX (SPCX.US) quickly weakened at the opening, falling more than 5%, with a cumulative 10% drop over the past two days, after rising over 40% in the first four trading days after its IPO. The continuous rise in SpaceX's stock price has sparked concerns of a new round of selling. Peter Boockvar, Chief Investment Officer of One Point BFG Wealth Partners, stated that investors are trading in a mix of factors such as growth stories, market trends, excitement, and belief in Musk, but SpaceX's current valuation is so high that the company must produce actual results to support this valuation, which will take at least a few years to achieve. Paul Meeks, Managing Director and Technology Research Director at Freedom Capital Markets, believes that SpaceX's stock price may have already reached its peak in the short term, and a larger decline may already be underway.