SpaceX: Good Luck Beating The IPO Curse

SpaceX is launching an IPO at a $1.77 trillion valuation, which an analyst considers extremely stretched versus bullish sum-of-the-parts scenarios. Starlink drives growth with $11.4 billion in FY25 revenue, 50% year-over-year growth, and over 10 million subscribers. Governance is tightly controlled by Elon Musk, with public shareholders having no real influence.