Investor Gary Black said on Thursday that he is not eager to buy into SpaceX's expected initial public offering, arguing that the Elon Musk-led rocket and satellite company appears too expensive at a valuation that may approach $1.75 trillion.
Black Questions SpaceX's IPO Valuation "Not that interested in $SPCX," Black, managing partner at The Future Fund LLC, wrote on X.
"I don't know of any $2T market cap companies that trade at 300x EBiTDA.
Given all the hype, likely to be way overpriced.
Will be more interested after it falls by 50%." Not that interested in $SPCX.
