Elon Musk's Space Exploration Technologies (NASDAQ: SPCX) just delivered its second earnings report since becoming a publicly traded company. The results gave Wall Street plenty of reasons to celebrate. As of this writing (Oct. 21), SpaceX stock is up roughly 10% as investors reassess the company's long-term potential. I think more investors are understanding how Musk's infrastructure conglomerate is swiftly becoming a diversified technology platform with multiple levers to generate recurring revenue and sustainable profits. While the investment thesis around SpaceX is getting stronger, smart investors should be careful about chasing momentum right after an earnings report.
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