SpaceX (NASDAQ:SPCX) went public last week in a historic IPO that valued the firm at $1.78 trillion. Today, just several trading days later, SpaceX is valued at over $2.5 trillion – and in pre-market trading nearing $3 trillion.
To put this in perspective, Amazon is valued at approximately $2.65 trillion. Old school tech firm Microsoft is just under $3 trillion.
While some detractors believe SpaceX is overvalued, others believe the markets are getting it right as the company is well-positioned to dominate the nascent space industry. SpaceX is also the operator of Starlink, which continues to grow and is a burgeoning AI enabler.
Founder Elon Musk, who currently earns a $54,000 salary from SpaceX, is now a trillionaire thanks to the IPO, which also created thousands of millionaires. At the same time, he has several hurdles that will boost his compensation, including a firm valuation of $7.5 trillion, data centers in space generating over 100 terrawatt-hours, and a permanent colony on Mars.
At some point, SpaceX shares will take a pause and may retrench. But investors buy based on future expectations. Not what happened last week or last year.
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