New Delhi, July 22 -- SpaceX has erased almost $1 trillion in stock market value in five weeks, yet Elon Musk continues to say, if goals are met, the company "will be worth more than Earth." But is it really safe to bet on SpaceX right now?

SpaceX's blockbuster IPO was priced at $135 a share on June 11, raising $85.7 billion in the biggest public offering ever. The stock got off to a flying start, closing its first trading day on June 12 at $160.95. The rally continued over the next few sessions, with shares hitting an intraday record of $225.64 on June 16, briefly lifting the company's market value above $2 trillion.

From then on, SpaceX shares started going downhill. In seven consecutive trading sessions through July 20, it lost 21% t...