You Already Own Tesla. Should You Add SpaceX to Your Portfolio, Too?

The article focuses on SpaceX’s IPO and subsequent stock swings to argue against adding SpaceX to a portfolio that already owns Tesla. Space Exploration Technologies (SpaceX), listed under ticker SPCX, priced its IPO at $135 per share on June 11, 2026, raising $87.5 billion. Shares jumped to $225 within three sessions, briefly valuing the company near $3 trillion, but by June 24 it traded around $156, down about 31% from the peak and erasing more than $600 billion in market value. Morningstar, using discounted cash flow from the S-1, pegged fair value at $63 per share. The S-1 data cited shows $18.7 billion in 2025 revenue with nearly $5 billion in losses, including $1.94 billion operating losses in Q1 2026 on $4.69 billion revenue. It says Starlink was the only profitable segment with $119 million operating income, while losses elsewhere dominated, and that the xAI integration adds a near-term drag.