SpaceX is already worth more than Amazon. So why are analysts sounding the alarm?

SpaceX has shot up to a market cap that briefly surpassed both Amazon and Microsoft just two days after its public debut, reaching an astonishing $2.95 trillion. This extraordinary valuation highlights an investor frenzy for the company’s ambitious goals in space travel and AI, despite lacking concrete profits. While such a valuation is hard to justify based on current financials, it underscores the immense potential and speculative excitement surrounding Musk’s ventures. This rapid rise raises questions about the sustainability of such speculative investments and the broader implications for market stability.