As SpaceX begins its life as a public company, investors may be making a fundamental mistake by viewing it through the lens of traditional aerospace firms, according to Defiance ETFs Chief Investment Officer Sylvia Jablonski.
While concerns around valuation have dominated discussions surrounding the IPO, Jablonski argues that investors may be overlooking the breadth of the company’s business model.
SpaceX So Much More Than Launches
“The market is still thinking about SpaceX as a rocket company,” Jablonski said in an interview with Benzinga. “Six months from now, investors may increasingly view it as a multi-platform infrastructure company spanning launch, communications, defense, AI connectivity, and potentially space-based data services. There is so much more to SpaceX than just launches.”
That broader infrastructure narrative is central to Defiance’s bullish thesis. While skeptics have questioned whether SpaceX’s valuation already reflects overly optimistic growth expectations, Jablonski says many investors are relying on the wrong comparisons.
