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Short seller Jim Chanos argues SpaceXβs planned $1.75 trillion IPO valuation is disconnected from fundamentals and driven by overly optimistic future expectations.
Speaking ahead of the record-breaking $75 billion listing, he said investors are pricing in ambitious narratives rather than realistic earnings prospects, adding that SpaceXβs valuation multiple far exceeds that of Tesla.
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Today, that amount is worth over $1 billion.
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NAKA shares finished the day up nearly 10%, but are down almost 39% in the last month.
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The IPO raised a record $75 billion on βthe sale of 555.56 million shares, valuing the space, satellite and AI provider at $1.77 trillion, a record for an initial offering. Musk retains 82% control, IPO sets aside 30% of shares for retail buyers
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