Every investor has had a thought from time to time that goes something like this: “If I had just bought this one stock soon enough, I’ll be rich now. »
It’s a tempting thought experiment to go back and calculate how to buy Apple, Amazon, Microsoftor other companies shortly after their initial public offering (IPO) could have changed your portfolio.
And some investors probably think that way Space exploration technologies (SPCX +7.36%) right away. After all, SpaceX has a leading artificial intelligence business, a successful rocket launch business, and a rapidly growing Starlink satellite internet company.
So, is SpaceX the stock that investors will look back on years from now and wonder if they had just invested $5,000 in it, they would be millionaires?
I don’t think so, and here’s why.
Image source: The Motley Fool.
The calculations don’t match
The SpaceX stock price is around $160 as of this writing. To turn a $5,000 investment into $1 million, SpaceX shares would need to rise nearly 20,000%. This is a near-impossible feat and highly unlikely given that SpaceX’s market cap is already $2 trillion.
Some investors, however, remain optimistic that the company could see significant gains in its stock price. And there are some legitimate reasons to be optimistic about SpaceX.
For one thing, the company has a thriving satellite internet business. SpaceX says Starlink has 12 million paying subscribers, with about 3 million residing in the United States. The number of Starlink customers based in the United States could reach around 15 million in just four years, according to analysts at Oppenheimer.
Starlink accounts for about 60% of SpaceX’s revenue and is the company’s only profitable business, with about $2.6 billion in EBITDA in the second quarter.
An expanding Starlink business could fuel momentum in SpaceX stock over the next few years if the company can continue to expand its user base. Don’t expect standout returns for SpaceX stock because of Starlink.
Space exploration technologies
Today’s change
(7.36%) $10.89
Current price
$158.96
Key Data Points
Daily scope
$149.34 -$159.84
52 week range
$104.83 -$225.64
Volume
314.1K
Average flight
92.8 million
SpaceX’s spending spree is a problem for the stock
I think one of the biggest drags on SpaceX’s stock gains is the company’s accelerating investments.
SpaceX spent $28.5 billion in the first six months of 2026, a 309% increase from the first half of 2025. The vast majority of that went toward the company’s artificial intelligence initiatives, including building large data centers.
The AI boom is well underway and many investors have been quite patient with all the spending. But their patience is starting to wear thin for companies that aren’t profitable, which is not the case for SpaceX.
If the company continues on its current investment trajectory, I doubt SpaceX stock will make significant gains from its current level. There are simply too many other AI stocks to choose from that spend less while still generating impressive profits for their shareholders.
All of this means that if you don’t know where to put $5,000 right now, SpaceX probably isn’t your best bet — and it certainly won’t help you become a millionaire.
Gn bussni
