Julie Biel: SpaceX has been declining for six consecutive days, with valuation driven by xAI and a premium

Julie Biel, Chief Market Strategist at Kayne Anderson Rudnick, stated that SpaceX has been declining for six consecutive trading days, dropping about 45% from its historical high, and even if the stock price returns to near $135, it is not cheap. Julie Biel believes that SpaceX's valuation of approximately $1.75 trillion at the time of its IPO was driven by xAI. If combined by segment valuation, SpaceX and xAI's total valuation may only be around $900 billion, lower than the overall IPO valuation.