SpaceX (NASDAQ: SPCX), the aerospace and AI company founded by Elon Musk, will go public on June 12.
It aims to raise $75 billion at a valuation of $1.77 trillion, making it the largest IPO in history
It’s also reportedly more than four times oversubscribed. That’s a lot of pent-up demand, but I wouldn’t touch it for four simple reasons. 1. It’s overvalued In 2025, SpaceX’s revenue rose 33% to $18.67 billion.
At its target IPO valuation, it would debut at 95 times last year’s sales. Therefore, it could easily start trading at over 100 times sales. Even if SpaceX’s revenue rises another 33% to $24.83 billion in 2026, it would already be valued at 71 times that estimate.