Ed Elson

Would you say that that is a fair characterization?

Alex Heath, author of the Sources newsletter and co-host of the Access podcast.

Alex, thank you so much.

Always appreciate your time.

Thanks, Ed.

T-minus one day until SpaceX goes public.

It will be the largest IPO of all time, a $75 billion offering at a $1.77 trillion valuation.

My final message to our listeners before SpaceX starts trading publicly, my final message is do not buy this IPO.

This company is dramatically overvalued.

And not only that, this is a rigged game, and the game is not rigged in your favor.

Here is my prediction for what will happen tomorrow.

As soon as it hits the market, SpaceX stock will immediately explode 25%.

Why?

because this is the hottest stock in the world, and because the banks need this IPO to be quote-unquote successful.

Because if it goes badly, then all the other IPOs, like OpenAI, like Anthropic, will be called into question, which will be a huge problem for the underwriters and for the markets at large.

In other words, the bankers won't let this fail.

They have the capital to make sure it won't fail, at least on the first day.

However, my other prediction is that within six months, probably sooner, SpaceX stock will be cut in half.

Why?

Because the valuation makes no sense whatsoever.