SpaceX ($SPCX) is one of those 99% of stocks that is impossible to accurately value because it’s largely built on narrative of castles in the sky and not real cash flow or earnings . Buffett calls this the 99% “ too hard to figure pile” If you read their prospectus, 1.3% of their value is from space economy 5.7% from Starlink ( connectivity) 93% from AI grok Only star link is profitable. If you do a DCF valuation based on 30% growth rate for 10 years, it is worth $25 So what is SPCX worth ? It is $25 plus how much you love Elon’s stories That being said, I think it’s worth a buy for a speculative trade at $80 to $90. Historically, new IPOs tend to drop 40% to 50% below their first days closing price before bottoming . $SPCX first day close was $160
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