SpaceX (SPCX) briefly became one of the world's most valuable companies, reaching a market capitalization of $2.8 trillion before experiencing a pullback. The stock surged to nearly $212 on Tuesday but retreated to around $202, indicating potential fatigue. This decline followed its IPO debut at $135, with the stock's momentum waning as the relative strength index (RSI) fell from overbought levels. Despite the short-term volatility, SpaceX remains the sixth largest company globally, with a market cap of approximately $2.52 trillion, surpassing Taiwan Semiconductor and trailing Amazon. The demand for SpaceX stock is robust, with significant interest in leveraged ETFs and $1.4 billion in SPCX perpetuals traded on a decentralized platform. However, analysts caution that the current valuation may be speculative, with key support levels at $201 and $179 potentially determining the stock's future trajectory.