SpaceX還能買嗎？馬斯克的兆元神話要破滅了？星艦試飛，能否迎來絕地反擊？

The SpaceX Post-IPO Breakout Paradox: Capital contraction vs. orbital execution metrics. The Quantitative Ledger Deep-Dive: Deconstructing the Q1 $4.27B net deficit and the limits of Starlink's near-term structural margins. The September Lock-Up Influx: Managing a 900% float expansion against the institutional $30 base-case valuation model. Starship V3 Flight 13 Performance Mandate: Turnaround velocity, real V3 payload deployment, and vacuum Raptor engine re-ignition. Project "Starmind" Space AWS Framework: Capitalizing on absolute zero cooling and infinite solar yield for a $28B AI compute matrix. Macro Space Economy & Competitive Moats: Jeff Bezos' Blue Origin financing escalation and orbital real estate limits.