SpaceX Stock Is 169% Overvalued According to Experts. Here's Why.

SpaceX stock is trading around $162 per share following its IPO at $135, but research firm Morningstar values the company at only $63 per share—a 169% overvaluation. While Morningstar acknowledges SpaceX as an attractive business with a claimed $28.5 trillion total addressable market, the firm argues the stock price doesn't align with realistic financial projections. Even in Morningstar's most optimistic scenario assuming successful execution of major engineering initiatives like reusable Starship rockets and space-based data centers, the company would be worth only $154 per share, still below current trading levels.