SpaceX (SPCX) shares trade near $148–149 with a roughly $2 trillion market capitalization following June’s record IPO at $135, reflecting heavy investor focus on Starlink’s subscriber expansion beyond 12 million and recurring revenue growth alongside Starship’s technical milestones. Recent Falcon 9 launch cadence and contract extensions have supported operations, yet the stock remains volatile after peaking above $225 amid broader market rotation and execution risks around fully reusable heavy-lift capability. Key near-term catalysts include the targeted late-September Starship orbital flight attempt and continued Starlink deployments, which could shift implied probabilities for an October close depending on technical outcomes and any updates on AI infrastructure contracts.