SpaceX IPO’d around $1.75–1.8T valuation (priced at $135/share), raised record ~$75B. Stock jumped fast, pushing market cap over $2T+ quickly.
2025 revenue: ~$18.7B (mostly Starlink).
Reported net loss in 2025 (around $5B range in filings, partly due to heavy capex on Starship, xAI integration, etc.). Starlink itself is profitable/growing fast.
Valuation is extremely high vs current earnings — classic “story stock” / growth-at-any-price bet on future Starlink, Starship, AI/data centers in space, etc.
SpaceX valued at $2 trillion at IPO
It lost $5 billion last year
Hasn’t turned a profit yet
Has insane key person risk
And 95% of insiders can’t sell yet
But you think you’ll get rich from it 🙂
— Barbell Financial 💪🏻💰 (@BarbellFi) June 16, 2026
My cautionary posts about SpaceX/Semiconductors seem to have struck a nerve.
Receiving many enraged/offensive e-mails.
Last time I saw this was in 2021 when I was warning about the meme stock/SPAC/ARKK manias.
History doesn't repeat itself, but it often rhymes. https://t.co/N9MSZqPR8p
— Charlie Bilello (@charliebilello) June 16, 2026