BUZZ-SpaceX shares in orbital descent; heading for lowest close since IPO

** Shares of SpaceX SPCX.O were down 4.5% at $112.90 on Friday, putting them on track for their lowest close since the internet and rocket company's blockbuster debut last month

** SPCX is now down 16% from the $135 price set in its June 11 IPO that raised a record $75 bln

** The stock has declined 44% from its highest close, on June 16

** The company is set to report quarterly results on Aug. 4. Employees and some early investors will be able to sell 911.5 mln shares on the second day following that report, more than doubling the number of shares on the stock market

** With a market cap of $1.48 trln, SPCX is less valuable than Meta Platforms META.O, at $1.53 trln, and more valuable than Tesla TSLA.O, at $1.16 trln

** SPCX is trading at 77 times expected rev, making it one of Wall Street's priciest stocks

** 34 analysts cover SPCX, on average rating it "buy." Median price target is $225, which is about double its current price