SpaceX Is Back Above Its IPO Price. Is It too Late to Buy the Stock?

• SpaceX stock rebounds above IPO price to $145 after lockup expiration. • Q2 revenue surged 92% to $7.8B with sharply reduced net loss. • High valuation (P/S 64) and Starship risks suggest caution despite bullish targets. SpaceX (SPCX) shares have recovered above the $135 IPO price to trade at $145. The lockup expiry on Aug 6 passed without heavy insider selling, and Q2 revenue rose 92% to $7.8B while net loss narrowed to $541M. Wall Street’s average target of $235.69 implies ~62% upside, supported by Musk’s $1T 2030 revenue vision. However, Starship remains unproven, and the 64× price-to-sales multiple already prices in near-perfect execution. Any setback could trigger a sharp sell-off, so the stock appears overvalued and better entry points likely lie ahead.