SpaceX reported third-quarter revenue of $14.6 billion, more than double the $5.6 billion a year earlier, with its Super Intelligence (SI) segment rising from $813 million to $7.6 billion. Adjusted EBITDA reached $8.8 billion versus $2.2 billion a year ago, and operating profit was $2.8 billion compared with a loss of $273 million. The author notes the stock still has a market cap of $2 trillion and trades at 85 times estimated future profits, so growth may already be priced in. The stock has not reached $200 since its early trading days after the IPO, and the author does not expect Q3 results alone to lift it there without a more significant catalyst.
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