SpaceX (SPCX) shares have traded near $152–155 in late September 2026 after recovering from a post-IPO peak above $225 and a July low near $108–116, leaving the market cap around $2 trillion and forward multiples near 65 times projected sales. Revenue acceleration from Starlink subscriber growth and AI compute rental agreements with Anthropic and Google has supported the rebound, though trailing revenue remains near $19 billion annually. The primary near-term catalyst is the targeted September 28 Starship orbital flight attempt, which could influence sentiment on execution risk and long-term revenue potential. Trader positioning on weekly closing levels above key thresholds reflects ongoing debate over whether accelerating fundamentals can sustain current valuations amid historical volatility following the June 2026 IPO priced at $135.