To The Moon

Waaaay overvalue lah bro and sis 👍👍👍

$Space Exploration Technologies Corp(SPCX)$  

This SpaceX IPO around $1.77 trillion valuation, $135 per share… looks like full-on hype rocket already. Price-to-sales 94x on 2025 revenue, really gone case kind of level already. Q1 2026 still bleeding also — about $4.27 billion net loss somemore.

Not even pure space company anymore lah, now become mixed bag — SpaceX plus Elon side quests like xAI and X all bundled in. But public still pay premium like sure win, when actually still burning cash.

Governance also no power one — Elon still hold like 82.4% voting control via dual-class shares. Retail investors basically just sit inside the rocket, cannot touch steering wheel.

Only 5% float also very “engineered” — small supply, big demand story, easy to create illusion one.

End of the day, more like hype machine IPO than real value play. Everyone think “to the moon”, but also got chance become long-term bag-holder if expectations fly too far.

Then index rule also come in already 👍👍👍

S&P say “not so fast lah” — SpaceX cannot just jump into benchmark index early, must follow existing rules.

So basically:

Rocket can fly to space, but index door still say “go queue first” 🚀📉

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