SpaceX (SPCX) Stock Looks Expensive Against Its Book Value

Space Exploration Technologies has climbed 4.9% over the past month, and with the stock around US$159, the live question for investors is whether that price can be squared with what its balance sheet is actually worth. The roughly 4.9% gain over the past 30 days puts fresh attention on whether the recent share move is running ahead of, or simply reflecting, the value implied by Space Exploration Technologies’ book value. Big ambitions around AI infrastructure, Starlink connectivity and...