Finance: The Independent | Musk’s $1.75 trillion moonshot hits gravity as analysts slash SpaceX value

[mastodonmigration@mastodon.online]

Finance: The Independent | Musk’s $1.75 trillion moonshot hits gravity as analysts slash SpaceX value

"Morningstar analysts have assigned a valuation of $780 billion to Elon Musk’s SpaceX, a figure less than half of what the company is reportedly aiming for in its upcoming initial public offering."

"We think the company has been significantly overvalued...

https://www.independent.co.uk/money/elon-musk-spacex-morningstar-ipo-value-b2988013.html

#SpaceX #SpaceXIPO

[mastodonmigration@mastodon.online]

Normally this would be catastrophic for an IPO, but because of index rule changes, the major indexes will be forced to buy at WHATEVER SPACEX ASSERTS they are worth. What's worse, as insiders dump the stock, increasing the float, the indexes are going to continue to be required to buy, no matter what the price. There are no market forces at work here. It is literally a holdup. The most brazen heist in modern market history.

Lots more here: https://mastodon.online/@mastodonmigration/116671524970656406

#SpaceX #SpaceXIPO

[pier@infosec.exchange]

@mastodonmigration Morningstar thinks SpaceX is worth $780 BILLION? Based on what? Their astronomical profits?