SpaceX Faces Its Biggest Test Since Going Public. Its First Earnings Report Could Reverse a $1 Trillion Stock Rout.

Shares closed Monday at $114.53, down 15% from the initial public offering price and nearly 49% below the record high of $225 reached just days after trading began. (Credit: Getty Images)

SpaceX will report its first quarterly earnings as a publicly traded company on Tuesday after market close, marking a pivotal moment for Elon Musk's aerospace and artificial intelligence giant after one of the most dramatic post-IPO reversals in recent market history.

The company, which debuted on Wall Street in June at $135 per share, quickly became one of the hottest stocks of the year before losing nearly half its value from its peak. Investors are now hoping the earnings report will provide evidence that SpaceX can justify its lofty valuation and reignite confidence after the stock's steep decline.