SpaceX Trades Near $150 Following Volatility as Analysts Project $3.6 Trillion Valuation by 2031

Space Exploration Technologies Corp. trades around $150 per share with a $2.1 trillion market capitalization and a price-to-sales multiple near 100. Following an IPO at $135 and a peak of $225, shares settled as the market evaluated long-term growth versus near-term risks, including upcoming lockup expirations. Management targets $1 trillion in annual revenue by 2030, scaling compute capacity from 2 gigawatts to nearly 10 gigawatts by next year. However, conservative Wall Street consensus projects 2031 total revenue between $600 billion and $650 billion, yielding an estimated $3.6 trillion valuation at a 6x multiple.