The immense IPO hype has fizzled nearly two months later, with SpaceX stock shedding $1.2 trillion in market cap<\/a> and tumbling nearly 50% from the peak. Shares tanked 14% after the company’s first-ever earnings<\/a> report this week, and investors are looking for a catalyst to lift the stock as it struggles against a potential wave of stock sales from insiders.<\/p>\n Ryan hasn’t touched his stake and doesn’t plan to anytime soon, holding out for what he sees as long-term growth potential. But if the outlook for SpaceX<\/a> continues to sour, he said he would consider getting out entirely, adding that a line in the sand for him is if SpaceX’s Starship fails to progress beyond partial reusability.<\/p>\n Despite the post-IPO slide, early investors in Musk’s rocket company<\/a> are still way up on their holdings, given the company’s valuation surge in the years it was privately held.<\/p>\n Yet, that doesn’t mean it’s not stressful watching the wild swings in the price of an asset that’s meant to be a nest egg.<\/p>\n That volatility could intensify as more insider shares are unlocked through the end of the year, leaving some people who got in early torn about whether they should continue to bet on Musk’s vision or head for the exits before the supply of available shares vastly increases.<\/p>\n Business Insider spoke to three early SpaceX shareholders about how they felt about the stock’s rise and fall. Business Insider verified each investor’s stake through screenshots and documents showing their stock awards<\/a> or involvement in private investment vehicles, which gave some accredited investors early access to the company.<\/p>\n Ryan said he was bullish on SpaceX’s long-term trajectory overall. As a former employee, he’s familiar with the company’s leadership<\/a> and has faith that management will get the company through the current phase, which is dominated by heavy R&D spend.<\/p>\n “I’ve seen how the company works from the inside,” he said. “My thoughts are long-term, I think it’s probably going to do good. I mean, when has betting against Elon Musk really worked out?”<\/p>\n