Quick Read – A Truist study of 30 major IPOs found the average maximum first-year drawdown hit 55%, with even ARM falling 41% peak-to-trough in just three months. – Winners like PLTR and ZM skewed the 12-month average return to +14%, but the median major IPO actually lost 9% in…
s first year. – SpaceX’s Connectivity segment generated $11 billion in 2025 revenue at 50% growth, while its AI segment posted a $2.5 billion operating loss. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Arm wasn’t one of them. Get them here FREE
While SpaceX’s anticipated public debut has Wall Street salivating over what could be the most consequential IPO in a decade, the historical record offers a sobering warning. The company filed its S-1 in May, outlining three business segments: Space (Falcon and Starship launch services), Connectivity (the Starlink broadband network), and AI (X and Grok subscriptions). SpaceX’s first-quarter 2026 revenue rose 15% year over year (YoY), an increase of $627 million, driven almost entirely by Starlink subscriber growth while the Space segment actually contracted on fewer launch missions.
The headline numbers are real, and so is the corporate structure that investors would inherit. SpaceX intends to list under a dual-class arrangement with Class A carrying one vote per share, Class B carrying ten votes, and Class C carrying none. Tesla (NASDAQ:TSLA) CEO Elon Musk will serve as Chief Executive Officer, Chief Technical Officer, and Chairman, with control over director elections under NASDAQ’s “controlled company” rules.