The highly anticipated SpaceX (NASDAQ:SPCX) IPO was an event to be remembered by investors. The event also saw calls for major stock market indexes to change their inclusion rules to fast-track one of the world’s largest companies for inclusion. While the S&P 500 held their ground, legendary investor Jeremy Grantham says the Nasdaq "cheated" to put SpaceX in the Nasdaq 100 early.
Grantham on SpaceX IPO
In a recent podcast appearance, GMO co-founder Grantham called SpaceX "the craziest IPO in the history of man."
The legendary investor shared his thoughts on SpaceX, the company’s lack of profitability, and its early inclusion in the Nasdaq-100 with Morningstar on "The Long View" podcast.
"$1.7 trillion for a company that’s rolling in red ink when 90% of the projection are on the AI of their currently third-rate AI offering who’s getting kicked around the block by Anthropic and OpenAI and so on," Grantham told Morningstar. "Just amazing."
