SpaceX Is on the Verge of Making Dubious History Yet Again, and Retail Investors May Pay the Price
On June 12, Elon Musk’s Space Exploration Technologies (NASDAQ:SPCX), better known as SpaceX, rewrote Wall Street’s record books. The $85.7 billion raised from its initial public offering (IPO), including the underwriters’ overallotment, was nearly three times that of the previous record holder, Saudi Aramco. SpaceX’s $1.77 trillion initial valuation was also the largest in history, though Anthropic could soon surpass it.
Musk’s artificial intelligence (AI) and space infrastructure goliath sports a self-proclaimed $28.5 trillion addressable market, much of which ties to its AI ambitions. This lofty figure, coupled with Musk’s success in growing Tesla (NASDAQ:TSLA) into a trillion-dollar business, has retail investors excited.
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