$SpaceX(SPCX.US) The biggest contradiction for SPCX right now is not whether the business is good or not, but which is running faster: valuation or growth speed.

From a fundamental perspective, SpaceX is indeed the world's strongest commercial aerospace company, possessing rocket launches, the Starlink satellite internet, defense contracts, and the imagination of the future space economy, with a very deep moat.

However, from a market perspective, the current stock price has already priced in a lot of future expectations. The company is still in a high-investment phase, and the valuation given by the market is far higher than that of most tech giants, so short-term volatility will be very high.