SpaceX is shaping up to be one of the biggest IPOs in history. Between Starlink’s explosive growth, reusable rocket dominance, AI ambitions, and Elon Musk’s vision for space infrastructure, many investors see it as a once-in-a-generation company. Reports suggest valuations ranging from $1.5T to even $2T ahead of a possible IPO.

But the big question is: is it still a good buy at these levels?

Personally, I think the long-term story is still incredibly strong. Starlink alone is becoming a massive global cash-flow machine, and SpaceX basically has no real competitor at its scale right now.

That said, the hype is also huge. At a multi-trillion-dollar valuation, a lot of future growth may already be priced in. History has shown that even great companies can pull back hard after IPO euphoria fades.

For long-term believers, it may still be worth accumulating slowly instead of going all in at once. The opportunity is massive, but so are the expectations.

This could either become the next generational compounder… or one of the most overhyped IPOs ever. Time will tell.

Bull case: SpaceX dominates launch services, Starlink is scaling globally, and they have an enormous technological moat.

Bear case: Valuation already assumes near-perfect execution for many years. At $1.5T–$2T, the stock could be very volatile after listing. �