Rockets or Submarines Space Exploration Technologies CorpBATS:SPCXsebastiannataliaSpacex is right back where it started after its IPO just a few days ago. Let’s look at the #’s The companies top line is very impressive not so to the bottom line; with 2023 revenues $10.39B and losses of ($4.63B ), 2024 34.9% CAGR revenues $14.02B profit $791M, 2025 33.2% CAGR revenues $18.67B and losses of ($4.94), 2026 H1 revenue $11.65B & losses of $4.28B in Q1 alone alone. Estimated revenue for 2026 $34B-$38B. Some new exciting business opportunities totaling $82B over the next three years with Google, Reflection AI & Anthropic. The exploration of direct to consumer mobile phone service under its Starlink brand competing directly with the big boys ( ATT, VZ, T-MOBILE) following the $17B acquisition of Echostar Dilution coming to town with Anysphere $60B all stock acquisition will add 350M to 450M shares to the existing float. Roughly 3.4% of the 13.2B outstanding shares . Then there’s the burn rate concern and the newly issued $25B in bonds that are already priced lower in the secondary mkt with widening yield spreads. The inclusion in the Russell 1000 forced buying $22B-$27B on 6/26/26 & on July 6 SPCX will be included on the Nasdaq -100 There is a ton of negative press that the stock is over priced and can trade at a lower valuation, be careful what you read and think about what the mkt is doing and what it has always done to retail! so the choice is yours… I’m a bull and long through options. Not financial advice & good luck.