"SpaceX is already trading at over a $2 trillion valuation, meaning that 30x returns from here are extremely unlikely."

… the median tech IPO is actually down 7.4% 6 months after its first trading day and was still down 3.5% a full year later. On top of that, when it comes to SpaceX specifically, the reason that some of the big winners like Shopify and Palanteer did so well is because they IPOed small and then they grew into hundred billion dollar market giants. But SpaceX is already trading at over a $2 trillion valuation, meaning that 30x returns from here are extremely unlikely. And this post sums it up pretty perfectly. Of course, in defense of Elon Musk and SpaceX, he's not the type of person you ever want to bet against. And all of his companies have seemingly just defied the odds and have done incredibly well. But it is a reminder that buying into the hype usually produces below average market returns and eventually t …

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