With SpaceX IPO happening soon there is a lot of buzz around the stock. The valuation of $1.75 trillion seems to price in a lot of future success and earnings which may limit the upside, but with it going to S&P and NASDAQ so quickly maybe it will push to $3-4 trillion within a couple weeks?
I'm undecided at this point, tending toward no.
The problem with index funds is you're forced to buy SpaceX regardless, at least if you're in the Nasdaq. If Elon can keep the bullshit going, its inclusion in the S&P 500 isn't far behind.