Is SpaceX a Millionaire-Maker Stock?

SpaceX, with a market cap of $2 trillion, is one of the world's largest public companies. However, its shares have experienced volatility similar to that of penny stocks. The stock was initially priced at $150 during its IPO, reached an all-time high of over $225, then dropped to just under $105 before settling back at its debut price of $150. The company's recent operating results, aided by new AI-driven growth drivers, have alleviated concerns about its maturing space industrial business.

The question remains: does SpaceX still have the potential to make investors millionaires? IPO investors often see the best returns when they buy shares in a company at its inception and hold onto them for the long term. Tech giants like Amazon, for instance, sold for a split-adjusted price of $0.075 per share when it went public in 1997. Today, each Amazon share is worth $257, resulting in a life-changing return of 342,566% for investors who bought and never sold.