SpaceX stock falls 5% after options trading opens, as analyst questions Elon Musk's $1 trillion（約160兆円） revenue target by 2030.

What happened: SpaceX shares dropped 5% on Wednesday after options began trading on Tuesday, snapping a rally that had driven the stock nearly 50% above its IPO price. Dan Taylor, a portfolio manager at Man Group, challenged Musk's forecast that SpaceX could reach $1 trillion（約160兆円） in annual revenue by 2030, saying the company is unlikely to hit that target within the proposed timeframe.

Why it matters: SpaceX's stock performance appears driven more by investor confidence in Elon Musk's track record than by clear fundamentals—the company reported a $4.9 billion（約7800億円） net loss in 2025 and another $4.28 billion（約6800億円） loss in Q1 2026. Taylor also signaled that future AI-related IPO enthusiasm will depend on whether current AI spending produces real commercial returns, not just sector hype.

What to watch: The launch of SPCX options on Tuesday opened a path for bearish bets; nearly one million call contracts traded on day one, making SpaceX one of the most actively traded options names on Wall Street. Retail sentiment on Stocktwits remained bullish as of June 18 despite the recent decline.