SpaceX shares (SPCX) closed near $148.68 on September 25 after trading in a $146–$149.67 range, down sharply from the post-IPO peak near $225 but above the $135 June 2026 listing price. Trader focus centers on the stock’s sensitivity to AI infrastructure momentum from the xAI acquisition, Starlink revenue growth, and Starship milestones versus elevated valuation multiples near 70 times trailing sales on roughly $23 billion in trailing revenue. Recent analyst commentary, including Morgan Stanley’s $300 target, highlights long-term optionality in orbital compute while noting near-term volatility typical of high-growth names with thin float and upcoming lockup releases. No major catalysts are scheduled for the immediate week ending October 2, leaving price action likely tied to broader equity sentiment, Treasury yields, and any incremental Starlink or launch updates.