SpaceX goes public at $1.77 trillion valuation as Dan Niles warns of steep risks ahead

SpaceX goes public at $1.77 trillion valuation as Dan Niles warns of steep risks ahead

SpaceX IPO'd at $1.77T raising $75B on 15% YoY growth and $4.2B operating losses. Index inclusion creates near-term support, but at 90-95x revenue with decelerating growth, long-term fundamentals face significant scrutiny once mechanical buying subsides.