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SpaceX Stock Climbs 32% Since August 1. At 66 Times Sales, the Entry Point Is Still the Question.

8/23/2026

Space Exploration Technologies (NASDAQ: SPCX) has gained 32% since August 1, and the operational backdrop earns that move.

The complication is a stock trading at 66 times trailing twelve-month sales while still posting a $1.3 billion net loss in the second quarter of 2026.

The case for SPCX starts with the AI unit, xAI, which Elon Musk has gathered under the SpaceX corporate structure alongside the launch business and Starlink. That segment grew 247% year over year in Q2.

The company also closed the acquisition of coding company Cursor last week; Cursor carries a $4 billion run rate, according to reports.