Why the SpaceX IPO Went to the Moon
SpaceX has an absurd valuation, and loses billions of dollars. So why was its IPO a hit? Because investors believe that Elon Musk can levitate the stock. They may be right, writes Joe Nocera.
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Why the SpaceX IPO Went to the MoonAt its Friday closing price of $161 per share, SpaceX trades at 95 times. (Sergio Flores/AFP via Getty Images)SpaceX has an absurd valuation, and loses billions of dollars. So why was its IPO a hit? Because investors believe that Elon Musk can levitate the stock. They may be right.By Joe Nocera06.15.26 — Tech and BusinessNo description available.FOLLOW TOPIC --:----:--Upgrade to ListenProduced by ElevenLabs using AI narrationREAD IN APPThere was a time, not all that long ago, when I would have been among those rolling their eyes at the SpaceX IPO. At the company’s insane $2 trillion valuation. Its $5 billion in losses in 2025.
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