Since SpaceX’s listing, its share price has declined by approximately 50% from its all-time high, followed by a phase gain of roughly 54%. Behind such drastic stock volatility lie both opportunities and risks. At present, SpaceX’s core business and corporate development objectives represent a milestone in the commercial spaceflight history of humankind, embodying a groundbreaking leap for human aerospace endeavors. Therefore, even though the company is operating at a loss, it remains favored by global capital. Is this rally a sustained uptrend or merely a rebound? Are investors offloading shares at high price levels? Or are institutional investors engaging in malicious short selling before accumulating positions at lower price points? For investment institutions and investors participating