SpaceX Went Public Today. The Smarter Trade Is Already Signed

SpaceX went public today.

I’ve been getting messages all week from subscribers asking whether they should buy it.

Elon Musk built a private company that does things at scale — rockets, satellites, Starlink, Starship, orbital data centers — that nation states said only they could do.

But I keep coming back to one number.

SpaceX is targeting a $1.75 trillion valuation. The largest IPO ever attempted. At that price, you’re paying roughly 94x annual revenue. Not earnings — revenue.

The company lost nearly $5 billion last year. When you’re paying 94x the top line of a money-losing business, you’re not buying a company. You’re buying a story.

As I wrote Wednesday, if you think you’re quick enough to trade it by all means go ahead. But be rational in your position sizing, and if it hits your stop, get out.

Here’s what I’m doing with my money instead.

SpaceX Is No Longer Just a Rocket Company