Should You Buy SpaceX Stock Right Now?

SpaceX's $2 trillion valuation appears disconnected from fundamentals, with a price-to-sales ratio exceeding 100 despite generating only $4.69 billion in Q1 revenue while burning $4.28 billion in losses. While the company has secured major contracts with Alphabet and Anthropic totaling ~$26 billion annually, Elon Musk's ambitious $100 billion revenue target by 2028 requires perfect execution and represents a more than twentyfold increase in less than three years. The stock's rally is driven primarily by Musk's involvement and speculative enthusiasm rather than solid fundamentals, with analysts suggesting investors consider alternative growth stocks with better balance sheets.