Opinions Stephanie Link, Chief investment strategist, Hightower
SpaceXSPCXBUYAug 07, 2026
Stock price when the opinion was issued
As of Aug 07, 2026. Market Open.
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One day, it could be a huge winner, but doesn't know when. Tomorrow, a huge block of shares will be unlocked by insiders. So, tomorrow the stocl will likely get hit again (-13.61% today). Musk has seen success with Tesla, so he can access funding. They just signed 1.7 million internet subscribers, and on the mobile side they're gunning for Verizon, AT&T and T-Mobil customers.
What the company is doing is great. (He even uses Starlink at his cottage, it's fabulous.) Massively overvalued. Could possibly (but not probably) grow into its valuation over 5 years, and he wouldn't want to take the chance on it.
It's the price you buy at that really counts. A lot of venture capital funds and private equity put $$ in. Once the lockup period is over, and they've made 10x their money, they'll head for the exit.
He'd like to this and Tesla merge. There would be great synergies. Both companies trade at high multiples and volatilty. If it falls to $100, he will double down.
Kevin SimpsonVery attractive here, if you look 3-5 years out. You need to have a very long-term horizon. She's looking for the point when launch costs drop from $3k per kg to $300, as it'll open a massive opportunity for new industries. Not super-cheap at this price; ideally, you want it when market cap is below $2T.
Unique, as the only one right now that can use reusable rockets to achieve cost reduction.
She sold one of her SPCX positions. She is a big fan of Elon Musk. The first year of an IPO can be dicey; Facebook and Uber fell 50%. SPCX needs to execute in some hard areas. VCs will definitely take some shares off the table at the end of the lock-up period. Since December 2024, it's up 6x while earnings are up 33%. She will watch over the next few quarters.
Bryn TalkingtonValuation defies all math. Speaks of everything speculative. Weaker hands, not institutions, are bidding it up. Didn't take long to impale itself. You'll have plenty of chances to buy this lower when the math works.
Elon's a proven innovator. If you want to be part of the Musk story right now, buy TSLA.
It will be volatile, down 25% from highs, but had rallied 50% from the IPO price. Set it and forget it, holding for 10-15 years. Revenues could rise 70% and double gross margins by 2030. They have a 90% market share in space, cost advantage given scale, launch costs will plunge from $14 million to $3-5 million in time. Starlink has 10 million customers, expected to top 200 million by 2030. Anthropic and Google are spending $2 billion/monthly renting AI compute.
He'll buy it below the IPO price. There is speculative fervor, fueled by Elon Musk who is too P.T. Barnum-esque for his liking. Musk said SpaceX will reach $1 trillion in sales by 2030. Well, how about $100 billion first? I have Elon discounted, not at a premium. SpaceX's price and valuation are too much. Tesla defies fundamentals, yet still does well. Robotaxis and self-driving cars haven't happened, but shares still go up.
Lock-up expiration was yesterday. She bought more, adding to her long-term holding. The earnings report was excellent across all segments. EBITDA was up. She understands why the stock fell on the news--all their spending plans--but the payback in the AI segment will be within a year. They're doubling subscribers. They beat operating margins. They had $14 billion in cloud service agreements this quarter alone, and she expects $60 billion annually in the future.