Elon Musk-led Space Exploration Technologies Corp (NASDAQ:SPCX) surged past $200 per share following its blockbuster IPO earlier this month, but investor Gary Black of The Future Fund LLC remained unconvinced by the commercial space flight giant's valuation.
SpaceX's Valuation Concerns In a post on X on Tuesday, Black outlined that investors were overpaying for the company's shares following the IPO.
"Investors shouldn't be paying 150x 2026 EV/EBITDA" for SpaceX.
He then drew comparisons with chipmaker NVIDIA Corp (NASDAQ:NVDA), pointing to its far lower valuation.
Read Also: Cathie Wood Bets $32.5 Million On SpaceX Dip As Stock Crashes From Debut Highs — Ark Keeps Dumping Roku Shares He said that NVIDIA was trading at "19x CY 2026 EV/EBITDA," adding that the chipmaker's long-term revenue growth was expected to be 10-15% annually.
