SpaceX (SPCX) shares, which listed in June 2026 at $135 and reached an intraday peak of $225 before settling near $155–$171 as of mid-October, reflect a market capitalization of roughly $2.0–$2.2 trillion amid sharp post-IPO volatility. Traders are weighing Q2 revenue of $7.8 billion (up 92% year-over-year) and Starlink subscriber growth against elevated multiples near 40–80 times forward sales, with analyst targets split between conservative estimates around $62–$100 and bullish cases of $300–$800 tied to AI compute expansion and Starship milestones. Recent pressure from the company’s first investment-grade bond issuance to fund AI infrastructure, alongside Elon Musk’s comments on potential multi-trillion-dollar long-term scenarios, has reinforced sentiment around near-term catalysts such as FAA launch approvals and further spectrum developments that could shift implied probabilities for October price thresholds.