As for SpaceX's stock price, I don't want to chase it in the short term.

135 USD IPO, shot up to around 200 USD in just a few days, the story is lit: rocket recovery, Starlink cash flow, government contracts, AI, and space infrastructure, it's like stuffing a decade's worth of 'future imagination' into a single stock.

But here's the issue. The market isn't buying this year's profits; it's betting on 'Musk being able to turn the impossible into infrastructure'. This logic is attractive in the long run, but quite fragile in the short term. Once the stock price quickly diverges from the IPO price, the first wave of profit-taking, index funds, and retail FOMO will all crowd onto the same path, and a pullback could come swiftly.

My judgment is straightforward: SpaceX can rise, but it’s not suitable to chase when emotions are at their peak. The best entry points will likely appear during two types of moments: first, a 30%-40% pullback after the IPO hype cools down; second, when Starlink's revenue, free cash flow, and Starship's commercialization progress provide more solid data.

If SPCX can hold onto its high valuation over the next year, the key isn't how cool rocket launches are, but whether Starlink can prove itself as a global communications cash cow and if Starship can keep slashing launch costs. Otherwise, that 20 trillion USD market cap is like a heavy rocket that hasn’t even lit its engines: looks impressive, but the fuel consumption is staggering.

Conclusion: bullish on commercial space in the long term, bearish on valuation digestion in the short term. My strategy isn't to chase the highs but to wait for the market to bring the myth back to business.

Not investment advice, do your own research (DYOR).