SpaceX shares slide as Oppenheimer lifts year-end target to $250

SpaceX shares fell sharply, fueling concerns over the company’s valuation, cash burn and meme-style trading. Oppenheimer raised its year-end price target to $250 from $190, but that failed to stabilize sentiment. The decline also cut CEO Elon Musk’s net worth by $67.8 billion in a single day, according to Forbes estimates. The report likened SpaceX’s trading behavior to Tesla, describing it as a high-volatility “Musk” stock with dynamics akin to “Tesla on steroids.”