At this point in time, Musk can afford to ignore the stock price since he will retain sufficient shares (with 10x voting rights if I am understanding correctly) to outvote any board.

However, some projections I have seen suggest even the public raise won't be enough for the entire vision (which includes LEO data centers AND trips to the Moon and Mars). That means he will either have to find the revenue or eventually sell even more shares. It will only be at that point he will care about stock price.

As I understand it he will retain control of the company in a similar arrangement to the one Zuckerberg has at Meta. Anyone who buys SpaceX stock is just along for the ride.

But by the time retail traders can affect the stock price, SpaceX will have already gotten their money.

They get all the money on the ipo day. They dont get more if it goes after unless they sell more stock