PremiumSpaceX has lost roughly $1.2 trillion in market capitalization since briefly peaking near $2.6 trillion in the first few trading days following its June 12 IPO. After an initial retail-driven buying frenzy, sentiment has sharply reversed, with the stock posting four consecutive weekly declines and now trading nearly 20% below its IPO price.The steep pullback, driven largely by post-IPO technical selling, comes just ahead of the company's first earnings release as a public company, scheduled for after the market closes Tuesday. The report follows Tesla's quarterly results just weeks earlier.