Based on any rational indicator SpaceX is extremely overvalued though.

Of course it does not mean that its stock price will crash after the IPO, stock markets in the US especially are not exactly behaving rationally.

> Norway is the 5th largest weapons and defense manufacturer

What's the issue with that? Unilateral disarmament would be an exceptionally stupid idea for any country and then you do need need someone to produce weapons for your military and those of your allies.