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Judging by the volumes and price action, Space Exploration Technologies (SPCX) stock has moved from the phase of volatility and price discovery to a stage of consolidation. While a price-to-sales (P/S) of 105.9 might indicate stretched valuations, robust growth and innovation offset this concern.
Talking about growth, SpaceX CFO Bret Johnsen recently opined that the company had “gained greater conviction that it can reach a $100B annual revenue run rate.” Johnsen pointed out that SpaceX had signed a new deal to provide AI computing power to a customer worth $1.11 billion a month. This contract represents $13 billion in annualized revenue.
