Elon Musk-led Space Exploration Technologies Corp (NASDAQ:SPCX) surged past $200 per share following its blockbuster IPO earlier this month, but investor Gary Black of The Future Fund LLC remained unconvinced by the commercial space flight giant’s valuation. In a post on X on Tuesday, Black outlined that investors were overpaying for the company’s shares, stating “Investors shouldn’t be paying 150x 2026 EV/EBITDA” for SpaceX. He compared the company to NVIDIA Corp (NASDAQ:NVDA), which he said was trading at “19x CY 2026 EV/EBITDA” with long-term revenue growth expected to be 10-15% annually, concluding “The math doesn’t math.” Economist Mohamed El-Erian weighed in on the split between gains and losses, noting that investors who acquired exposure at the IPO are up 23%, while those who bought at the high are down almost 25%. Economist Peter Schiff of Echelon Wealth Partners said Musk had lost roughly $150 billion on paper, adding “He’s still the world’s only trillionaire.” According to Benzinga Edge Rankings, SpaceX fails to provide a favorable price trend in the Short, Medium and Long term. SpaceX shares were unchanged 0.00% at $148.18 during premarket trading Tuesday.