SpaceX Is Already Worth More Than Amazon. So Why Are Analysts Sounding the Alarm?

Elon Musk’s rocket-and-AI company has soared since its IPO, briefly becoming the fourth-most valuable company on Wall Street. The next test comes when earnings arrive and insider lockups start to expire.

Photo: ANGELA WEISS/AFP via Getty Images

Two days after going public, SpaceX is already bigger than both Amazon and Microsoft.

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