Ownership by Default.
One of today’s biggest SpaceX developments happened inside millions of retirement accounts.
As SpaceX officially joined the Nasdaq-100, index funds that track the benchmark became automatic buyers. That means many investors now own a small piece of SpaceX without ever placing a trade.
And…the stock still fell 6.83% (again).
Then came the second headline.
Morgan Stanley initiated coverage with a $300 price target—the highest among major Wall Street banks—implying nearly 90% upside from Monday’s close.
One story is about ownership.
The other is about expectations.
Together, they explain why SpaceX remains one of the market’s most closely watched stocks.
Here is the story. ⇩
SPONSOR BREAK presented by BrownstoneResearch*
What Do Trump, Buffett, and Bezos Know That We Don’t?
Take at look at this stack of papers covered in black marker:
What you’re looking at are the 750 White House files President Trump quietly “redacted” behind closed doors.
But what happened next was even more peculiar…
You see, directly after deleting federal files that had been in place since Jimmy Carter was in office…
President Donald Trump wrote a $300 million check to a controversial company located in Foothill Ranch, California.
Strangely enough, he didn’t utter a single word about it to the cameras. Even more fascinating, it turns out, Trump’s not acting alone…
If you follow the money trail…
Jeff Bezos, Warren Buffett, Bill Gates… even an up-and-coming tech titan who the late Charlie Munger referred to as, “the new emperor of the world”… have all poured billions into the same area.
How SpaceX Ended Up in Your 401(k).
If your retirement savings are invested in a Nasdaq-100 index fund or a target-date fund, there’s a good chance you became a SpaceX shareholder today—without buying a single share.
How Much SpaceX Do You Actually Own?
Probably much less than you think.
Unlike most companies entering the index, SpaceX has a very small public float. Since the Nasdaq-100 weights companies by free-float market capitalization, not total company value, SpaceX enters the index at less than 1%.
For a typical retirement portfolio, that translates into roughly:
→ ~0.15% – Total U.S. market index fund
→ ~0.09% – Typical 60/40 target-date retirement fund
→ 0% – S&P 500 index fund (SpaceX isn’t currently eligible for inclusion.)
In other words, the exposure is extremely small.
That allocation could gradually increase over time as additional shares become eligible to trade and SpaceX’s public float expands.
For now, however, its impact on a diversified retirement portfolio is minimal.
SPONSOR BREAK presented by BrownstoneResearch*
Forget SpaceX, Elon’s M.A.G.I. Could Be Bigger
While everyone was distracted with the recent SpaceX IPO…
Elon Musk quietly filed a patent with the U.S. Patent and Trademark Office to protect what Jeff Brown believes will be his next breakthrough…
Something he called “the greatest tech invention in history.”
Click here to see the details because Elon is predicting this new AI breakthrough will unleash a $1 quadrillion new wealth wave.
⚠️ What Should You Do?
1 Understand what you own.
Most retirement plans invest in strategies, not individual stock ideas. When you choose an index fund, you’re choosing a rules-based portfolio that automatically adjusts as the index changes.
2 Check your holdings.
Not every retirement account follows the Nasdaq-100. Some track the S&P 500, others the total U.S. market, while many target-date funds combine several different funds into one portfolio.
3 Prefer not to own SpaceX?
S&P 500 index funds remain an alternative.
SpaceX doesn’t currently qualify for the index because it has not yet met the S&P’s profitability and seasoning requirements, making inclusion unlikely before mid-2027 at the earliest.
SPONSOR BREAK presented by ParadigmPress*
Move your money NOW! – Former CIA Advisor
He predicted the 2008 financial crisis…
He predicted Trump’s election in 2016….
He even predicted the rise of COVID-19 writing:
“The chance we don’t have something on the scale of a national pandemic in the next few years is near zero”
That was three months before the first reported case.
If he’s right again, God Bless America…
Because this crisis will be tectonic in scale…and it’s going to begin with the bubble popping in AI.
Morgan Stanley’s $300 call.
Morgan Stanley is the most bullish major bank yet
→ $300 target.
→ 87% upside.
→ A range from $75 to $600.
Here are the four pillars of their argument:
SPONSOR BREAK presented by MarketWise*
World’s Largest Investors Are Moving Their Money (Not Into AI)
While the media distracts you with stories about the next big AI IPO… The world’s largest investors are moving their money into one asset – at the fastest pace in a generation. This asset has crushed the S&P 500’s return over the past 12 months… More than TRIPLED the S&P 500’s return in 2025… and has outperformed the S&P 500 over the past 25 years by more than 1,100 percentage points. According to one Wall Street veteran, with over 40 years of professional investing experience… the biggest gains could be still ahead. That’s why he’s urging you to make one money move now.
The revenue trajectory Morgan Stanley is modelling.
→ $45 billion this year.
→ $319 billion by 2030.
→ $3.3 trillion by 2040.
→ Operating margins approaching 59%.
⚠️ Buried In The Footnotes…
Morgan Stanley’s outlook is highly optimistic—but it isn’t unconditional.
The report estimates that SpaceX’s expansion could require up to $300 billion in annual capital spending by 2031, with the company raising an average of roughly $84 billion a year between 2027 and 2034 to help finance that growth.
Jonas is explicit about the risk.
If capital markets become less willing to provide that funding, SpaceX could face difficult choices:
→ issue additional shares,
→ slow investment, or
→ delay parts of its long-term expansion.
In other words, Morgan Stanley’s bull case depends on more than technological execution.
It also assumes continued access to enormous amounts of capital over many years.
The Disagreement Is The Story.
It’s rare to see such a wide range of opinions on a company of this size. On the same stock, analysts value SpaceX anywhere from $63 to $300.
That isn’t simply a difference in valuation.
It’s a difference in assumptions.
The bulls believe SpaceX will successfully scale Starship, Starlink, and its AI business into one of the world’s most valuable technology platforms.
The bears question whether that future can be executed on the timeline—and at the scale—the market is already expecting.
At roughly $152 per share, SpaceX trades below most Wall Street targets but well above Morningstar’s estimate of fair value.
The market debate now is how much of that extraordinary future should already be reflected in today’s price.
Don’t forget to cast your vote 👇
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