SpaceX's SPCX shares, recently trading near $165 after a mid-September low near $150, reflect momentum from the September 28 Starship Flight 14 success that achieved orbit and deployed Starlink V3 satellites, alongside an October spectrum acquisition enabling broader direct-to-cell coverage. Second-quarter results showed revenue of $7.8 billion, up 92% year over year, with connectivity driving subscriber growth to 12 million and an expanding AI compute backlog exceeding $80 billion. Traders weigh these catalysts against a valuation above 40 times forward sales, planned debt financing for Nvidia chips, and potential share unlocks, while monitoring the timing of Flight 15 for any late-October resolution impact on end-of-month pricing.