SpaceX (SPCX) shares, which debuted in June at a $1.77 trillion valuation after raising roughly $85 billion, traded near $153 in mid-September with a market capitalization around $2.1 trillion following a sharp post-IPO correction from peaks near $2.8 trillion. Recent drivers include 92% year-over-year revenue growth in the latest quarter, continued Starlink expansion, and new AI infrastructure contracts, though retail selling pressure has weighed on the stock. On September 15, Morgan Stanley reaffirmed its buy rating and $300 price target, citing long-term AI and satellite opportunities. The market is also monitoring the delayed first orbital Starship flight, now slated for September 28, which could influence near-term sentiment around operational milestones and valuation multiples.