SpaceX Stock Joins Nasdaq 100 Amid Wild Valuation Debate

SpaceX is making waves on Wall Street as its stock, trading under the ticker SPCX, joined the Nasdaq 100 index on July 7, 2026. While the satellite internet service, Starlink, is highly profitable and growing fast, a massive net loss in 2025 has left analysts debating whether the high valuation is justified. The company is currently trading between 148 and 175 dollars, well off its post listing high.

Starlink is currently doing most of the heavy lifting. The service grew to over ten million paying users across more than 160 countries, pulling in 11.4 billion dollars in revenue for 2025. This highly profitable segment makes up nearly 70 percent of total revenue, which helps balance out the high costs of rocket development and AI projects.

Despite Starlink's success, SpaceX reported a net loss of nearly five billion dollars in its IPO prospectus. This was driven by heavy spending on Starship and a six billion dollar loss inside its AI unit. With the company valued at over 100 times its sales, investors are paying a steep premium that assumes flawless execution over the coming years.

While joining the Nasdaq 100 is expected to bring over four billion dollars in passive buying from index funds, the long term outlook depends on Starship. The giant rocket flew only five times in 2025, missing its target of 25 flights. Starship is crucial because it is the only vehicle capable of launching the heavier next generation Starlink satellites.