NYU professor Scott Galloway dismissed Morgan Stanley’s $300 price target on SpaceX (NASDAQ: SPCX) as unrealistic, suggesting the analyst behind the call is in the wrong profession. Speaking on the Prof G Markets podcast, Galloway remarked that the valuation logic resembles a romantic comedy rather than financial analysis. This critique arrives as SpaceX shares trade near $113, approximately 16% below their $135 IPO price and nearly 50% off an intraday high of $225.64.

The $300 target originates from Morgan Stanley analyst Adam Jonas, whose model projects revenue growth from $18.7 billion in 2025 to $319 billion by 2030. According to reports, more than half of this valuation relies on AI-driven data center ambitions and compute contracts with clients such as Anthropic and Google, rather than traditional rocket launches. Other Wall Street firms have issued varying targets: Goldman Sachs maintains a $205 target, while Raymond James analyst Brian Sigual holds a Street-high estimate of $800. Galloway’s co-host, Ed Elson, criticized Sigual’s view, noting it implies a $10.4 trillion market capitalization.

WeWork Parallels and Underwriter Conflicts

Galloway drew parallels between the current sentiment surrounding SpaceX and WeWork’s failed 2019 IPO. He recalled how underwriters at that time signed off on a prospectus using "community adjusted EBITDA," a metric that excluded real estate costs. Galloway labeled this approach "EBITDA before everything else" and warned against trusting institutions that fail to scrutinize such metrics. He highlighted a potential conflict of interest, noting that SpaceX’s reported IPO underwriters—including Goldman Sachs, JPMorgan, Bank of America, and Citigroup—all maintain buy ratings on the stock.

Prediction Markets and Upcoming Catalysts

Prediction markets reflect skepticism regarding a near-term rebound. Polymarket traders assign only a 21% probability of SpaceX closing July above $120 and just 2% odds of finishing above $140. The most likely outcome, priced at 60%, is a close above $110. Additionally, a separate contract offers 16% odds on a Tesla-SpaceX merger announcement by December 31, with nearly $880,000 in trading volume.

SpaceX is scheduled to report its first public earnings on August 4. A lockup tranche of roughly 911 million shares is set to unlock two trading days later, on August 6. Analyst Adam Jonas has noted that many investors expect the stock to trade toward $100 as these lockups expire. Galloway also criticized Tesla Inc. (NASDAQ: TSLA), calling it a "meme stock" after its shares fell roughly 15% in a week.

Space Exploration Technologies Corp. (NASDAQ: SPCX) activated free satellite texting for Movistar and MasOrange customers in wildfire-hit regions near Madrid on Sunday, July 26, 2026. The initiative provides compatible LTE smartphones with an emergency communication backup as blazes overwhelmed regional resources, disrupting terrestrial networks and forcing nearly 90,000 people to evacuate across central Spain. This deployment offers a critical lifeline for families, communities, and businesses to maintain contact when ground-based infrastructure fails.

Starlink announced the service on X, stating that users with compatible LTE smartphones can now stay connected through SMS even if terrestrial networks are unavailable. The system connects automatically, though performance is optimized with a clear view of the sky. The activation follows the declaration of a national emergency in Spain after fires burned more than 77,000 hectares across Madrid and neighboring Ávila.

Direct-To-Cell Technology in Action

Starlink Mobile’s direct-to-cell satellites function like cellular towers in orbit, utilizing participating carriers’ spectrum to reach ordinary smartphones without requiring satellite dishes. This Spanish deployment builds on a government-approved MasOrange pilot announced in February, which tested automatic satellite connectivity when ground coverage disappears. While the emergency service offers only SMS rather than broadband, basic texting enables residents to confirm safety, coordinate evacuations, and contact relatives.

The activation appears to be among Europe’s first major disaster uses of Starlink’s satellite-to-phone system. Ukraine had previously planned to become the continent’s first country to launch commercial Starlink mobile messaging under a partnership with Kyivstar.

History of Disaster Deployments

SpaceX has repeatedly utilized Starlink technology following natural disasters globally. The table below outlines recent major deployments:

Following Hurricane Helene in 2024, the Federal Communications Commission temporarily authorized SpaceX and T-Mobile US Inc. (NASDAQ: TMUS) to provide direct-to-cell coverage in North Carolina. FEMA reported that 40 Starlink systems supported responders, with another 140 being shipped. SpaceX later extended free service to victims of Helene and Hurricane Milton through year-end.

During the January 2025 Los Angeles wildfires, CEO Elon Musk announced free Starlink terminals for affected areas, with Starlink and T-Mobile enabling basic texting where cellular service had failed. Most recently, in June 2026, Starlink offered free service through July 25 in earthquake-hit parts of Venezuela, deploying terminals and replacing equipment damaged by the quakes.

What the Numbers Show

The scale of the current crisis underscores the necessity of satellite redundancy. With nearly 90,000 evacuees and over 77,000 hectares burned, the disruption to terrestrial networks was total in many areas. The ability to connect standard LTE devices without additional hardware lowers the barrier to entry for emergency communication, distinguishing this deployment from previous efforts that relied on dedicated Starlink terminals.