SpaceX’s shares surged by more than 25% on the very second day of listing, and its market cap “took off” immediately!

Musk is once again proving with actions: true innovation has never lacked the attention of the capital markets.
From the global coverage of the Starlink satellite network, to reusable rocket technology, and now this successful IPO, SpaceX is no longer just a pure aerospace company—it’s becoming a multi-domain powerhouse spanning space, communications, and defense.
After it went public, institutional funds rushed in, and retail enthusiasm also hit an unprecedented high. Behind this rally is the market’s extreme preference for “hard technology + high growth.”
But the overvaluation also raises questions: SpaceX’s current trailing P/E ratio is already far above that of traditional aerospace stocks—will it be able to keep delivering on earnings growth going forward?
Will the routine launch cadence for Starship, the progress of the Mars plan, and steady revenue from government contracts become long-term moats?
Or will there be a pullback after short-term hype?
Compared with Tesla back then, SpaceX is also following the path of “tell the story first, then deliver the results.” For now, the story is proving very successful, but what investors need to watch are the actual delivery figures and cash-flow performance in Q3 and Q4. What do you think?
Do you think SPCX can still climb another 50%+ and is worth a heavy position?
Or do you prefer to watch from the sidelines at these high levels, and consider buying only after a 10–20% pullback?
Or are you more bullish on SpaceX’s long-term narrative, planning to hold it as a 10-year long-term investment?
Feel free to share your position size and reasoning in the comments, and let’s discuss this “new trillion-dollar story” together.