Investor excitement around SpaceX is reaching another level as Elon Musk leans deeper into his long-term vision of interstellar travel. In a recent post, Musk referenced the possibility of light-speed travel and reaching alien planets, blending ambitious science with the already intense speculation surrounding a potential IPO. For investors, this creates a unique dynamic. On one hand, SpaceX is already one of the most valuable private companies in the world, driven by real revenue from launches and its Starlink satellite network. On the other hand, Musk’s futuristic messaging continues to fuel a narrative that goes far beyond traditional aerospace, positioning the company as a long-term bet on humanity’s expansion beyond Earth. The result is a surge in hype that feels similar to early moments around Tesla, where bold vision played a major role in investor sentiment. But it also raises an important question: how much of SpaceX’s valuation should be tied to current business fundamentals ...