Billionaire Jeremy Grantham says SpaceX IPO is the 'craziest' in market history
Fox Business • • business
Key Points:
- SpaceX has been fast-tracked into the Nasdaq-100 Index, linking its stock performance to the retirement accounts and portfolios of millions of American investors.
- Jeremy Grantham, co-founder of GMO and a market skeptic, criticized SpaceX’s valuation and long-term prospects, calling it "the craziest IPO in the history of man" and warning of potential collapse without massive AI advancements.
- SpaceX’s IPO on June 12 raised $75 billion, making it the largest IPO in history and pushing Elon Musk’s net worth toward $1 trillion, a record for an individual.
- Despite some Wall Street bullish forecasts with price targets between $205 and $300 per share, SpaceX’s stock has declined nearly 7% month-to-date and faces volatility influenced by index-driven demand.
- Founded in 2002, SpaceX has become the world’s largest space company, pioneering reusable rocket technology and securing key contracts with NASA and the U.S. government, reshaping the space industry’s economics.
