SpaceX Valuation: Is SPCX Stock Overvalued at 91x Sales?

SpaceX is facing scrutiny over its valuation, with the SPCX stock trading at a trailing price-to-sales ratio of approximately 91x. With a market capitalization of roughly $2.10 trillion against $23 billion in trailing revenue, analysts are questioning if the stock is overvalued. While the forward P/S ratio is lower at 25.2x, the company's valuation is being driven by market expectations similar to those of AI firms rather than traditional aerospace contractors. Additionally, a recent Nasdaq-100 reweighting has increased passive fund buying, despite warnings from analysts like those at Morningstar who consider the stock significantly overvalued.