Gary Black says investors are breaking the "number one rule in investing" by treating SpaceX as a great stock, not just a great business.

SpaceX stock has plunged to a record low, but one analyst from Raymond James believes that it can jump to $800, with its valuation hitting $10 trillion.

Gary Black says investors are breaking the "number one rule in investing" by treating SpaceX as a great stock, not just a great business.

SpaceX stock faces high expectations, but historical data shows most IPOs underperform in the long run.