At this stage, I would not chase.
A stock that rises nearly 20% intraday and then another ~10% after hours is no longer trading on fundamentals alone. It is trading on momentum, narrative, and fear of missing out. Those forces can push prices much higher than most people expect, but they can reverse just as quickly.
The bullish case is obvious:
Dominance in reusable rockets
Massive growth potential from Starlink
Long-term optionality from Starship
Strong retail and institutional enthusiasm
The bearish case is valuation and expectations:
A tremendous amount of future success is already priced in
Any launch setback, regulatory issue, or slower-than-expected Starlink growth could trigger profit-taking
Parabolic moves rarely continue indefinitely without consolidation
If I were interested in owning SpaceX for years, I would prefer:
1. A pullback of 15-30%, or
2. Several weeks of sideways consolidation
The risk now is not that SpaceX is a bad company. The risk is paying too much for a great company.
The old trading rule still applies: it is usually safer to miss the first 20% of a move than to be trapped in the first 20% of a correction.
For me, SpaceX is a "watch for opportunity" rather than a "chase at any price" stock at $211.
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