Cathie Wood's Ark Investment Management recently increased its SpaceX holdings, citing the company's ambitious goals in space travel and AI. However, the author advises against copying this move due to SpaceX's high valuation. With a price-to-sales ratio of 78.09 and modest Q1 2026 revenue growth, the stock appears overpriced relative to current earnings. The author argues that significant price drops are needed before the shares become an attractive investment.