The private space firm’s shares are set to debut at a valuation exceeding most global corporations despite ongoing losses.
SpaceX shares are indicated to open at $171 each, implying a $2.2 trillion market capitalization. The valuation surpasses nearly all publicly traded companies, despite the firm’s lack of profitability and unclear path to earnings.
The $2.2 trillion figure would rank SpaceX among the world’s most valuable firms, eclipsing tech giants like Apple and Microsoft. Analysts note the valuation contrasts with the company’s financials, which remain unprofitable amid high capital expenditures.
Traders are closely monitoring the IPO, which may not open for several hours. Broader markets rallied on easing oil prices, with the Dow gaining 900 points as geopolitical tensions eased.