Should You Forget SpaceX (SPCX) Stock?

SpaceX went public with enthusiasm around growth potential in space launches, satellite communications, and AI. While revenue surged 92%, the company posted a $541 million net loss in Q2. The stock trades at a steep valuation with a P/E ratio of 194 and price-to-sales ratio of 65, offering no margin of safety. Additionally, over a billion early investors' shares will unlock in September-October, potentially pressuring the stock downward. The author recommends steering clear despite analyst price targets suggesting 48% upside.