Good afternoon. The performance of SpaceX (SPCX) and the market’s read on the Space division (rocket launches and Starship) show a clear split between the technological narrative and the financial data.
Stock market status and performance
Historical IPO and valuation: After debuting on Wall Street in June with a valuation of $1.75 to $2 trillion, SpaceX shares have faced downward pressure due to a loss of momentum.
Effect of extreme valuation: Trading at Sales (P/S) multiples above 90x, the market prices the stock as significantly overvalued in the short term.
Investment strategies
Exclusion from key indices: Although it trades on the Nasdaq-100 and Russell 1000, the S&P 500 committee decided to exclude SpaceX from its index (at least until 2027) until it demonstrates sustained profitability at the holding level and resolves concerns about corporate governance.
Stock market status and performance
Historical IPO and valuation: After debuting on Wall Street in June with a valuation of $1.75 to $2 trillion, SpaceX shares have faced downward pressure due to a loss of momentum.
Effect of extreme valuation: Trading at Sales (P/S) multiples above 90x, the market prices the stock as significantly overvalued in the short term.
Investment strategies
Exclusion from key indices: Although it trades on the Nasdaq-100 and Russell 1000, the S&P 500 committee decided to exclude SpaceX from its index (at least until 2027) until it demonstrates sustained profitability at the holding level and resolves concerns about corporate governance.
