Is it possible that people who don't care about short term profitability but still want a strategic ownership of the company bought at a high price on IPO day and now that the day traders are in, speculation will readjust the price to short term values? The change of price just reflect the different buyer profiles.
SpaceX is a pretty important company not just for "the market" but also for many other things (see Russia/Ukraine war).
Fair warning: I know nothing about all this.