Retail traders say they're excited to buy SpaceX stock—just not with a $2 trillion price tag

Everyday investors say they have one concern about SpaceX's IPO .

Three traders told Business Insider they don't see how SpaceX's 13-figure valuation can be justified.

The company is expected to make its historic debut in the stock market in June.

SpaceX will make a historic stock-market debut in the coming weeks, but some retail traders say there's one thing stopping them from buying on day one.

Everyday investors speaking with Business Insider said that the colossal valuation is hard for them to get behind. Elon Musk's rocket company will likely be the largest IPO in history, with an expected valuation of $1.75 trillion to $2 trillion and $75 billion raised when it offers shares to investors.

For some retail traders watching from the sidelines ahead of the IPO, those numbers are tough to swallow. A big concern is that SpaceX stock will ride the hype of its IPO to stratospheric levels, before potentially plummeting as early investors and insiders cash out and other shareholders sour on the narrative that's boosting the valuation of a company that's not profitable .

Neil Rozenbaum, a 32-year-old retail investor with stakes in other tech giants, including Elon Musk's Tesla, said he believes SpaceX is an "amazing company," but overhyped heading into its IPO.

Rozenbaum speculated SpaceX's IPO could look like a lot of other IPOs that soared out of the gate and then tumbled. He pointed in to Cerebras Systems , a chipmaker that kicked off this year's AI-linked IPO boom earlier this month. The stock soared 68% on its first day of trading, but has dropped more than 20% since.