Julie Biel: SpaceX has dropped for six consecutive days, and its valuation carries a premium driven by xAI.

Kayne Anderson Rudnick Chief Market Strategist Julie Biel stated that SpaceX has fallen for six consecutive trading days, dropping approximately 45% from its historical high. Even if its stock price returns to around the IPO price of $135, it is still not inexpensive. Julie Biel believes that SpaceX’s IPO valuation of about $1.75 trillion was driven by xAI, and if the valuations of SpaceX and xAI are summed separately, the combined value may only be about $900 billion, below the overall IPO valuation.