(https://www.cnbc.com/2026/06/18/here-are-the-odds-of-spacex-becoming-the-worlds-most-valuable-company.html) is a narrative event, not a valuation event. The options market is pricing a 3-5% chance SpaceX hits $1T in a decade—which means institutional money is betting satellite launch economics stay brutal: razor-thin margins, $5B+ annual capex, and increasing competition from Axiom, Blue Origin, and international competitors.

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