The SpaceX IPO confuses me, with the kind of testing they do the stock price is going to be a roller coaster ride. Every splashdown with an explosion, even if planned, is going to impact the stock price. Are they hurting for cash? Why even IPO if you don't need the cash?
Their IPO sees the company as doing a small amount of space and $22T of B2B services. If you believe that then space launches shouldn’t have much impact on their valuation compared to things that affect their hypothetical services revenue. If you think the value comes from the rockets, you would need some very large multiples to justify their desired valuation in which case, sure, the rockets are the cause of volatility…
They need the cash to bail out xAI and X.
Even SpaceX is not profitable because of Starship.
Patrick Boyle has an excellent presentation (YT) on the SpaceX IPO. In case you thought you knew it was bad … it’s way worse than you think.
https://youtu.be/IHD8BDFYyGI
SpaceX, according to their own documents is an AI company, with 97% of their projected future income coming from it.