The author says he has not bought SpaceX (SPCX) even though the stock rose 25% over the three months to October 22, mainly because he does not fully understand the company, despite its leadership in space launches, satellite communications and AI. He cites other concerns: a price-to-sales ratio of about 58 versus 3.5 for the S&P 500, a profit only in the most recent quarter, cash burn of around $10 billion in that quarter, no dividend, and doubts about CEO Elon Musk's leadership. The author considers the case against the stock strong, since many things would have to go right for the company, which is far from guaranteed.
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SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/30/2026 | 755.71 |
| Change that session | -1.77% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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