SpaceX’s $2 trillion IPO breaks records but fuels valuation alarm
SpaceX priced its IPO at $135 and closed at a $2.1 trillion market value, the largest debut ever and making Musk the first trillion‑dollar individual. The deal relied on Musk’s vision, not market fundamentals, leaving investors to weigh a 112‑times‑revenue multiple against a $41 billion loss history. Wall Street’s appetite for mega‑IPOs is now on trial.