SpaceX (SPCX) shares closed at $148.68 on September 25, 2026, leaving the stock roughly flat since its June IPO at $135 and well below the $225 peak, with a $2.02 trillion market cap. Trader sentiment for an end-of-October close above key thresholds centers on revenue acceleration—Q2 connectivity revenue rose 66% year-over-year while AI compute deals with Anthropic and Google drove overall sales higher—against elevated multiples near 100 times trailing revenue. Recent volatility stems from staggered lock-up releases and thin float dynamics, with upcoming catalysts including potential Nasdaq-100 inclusion decisions and Starship test milestones that could shift risk appetite. Current pricing reflects aggregated capital-at-risk views on whether growth momentum can overcome valuation compression before October 31 resolution.