Morningstar warns SpaceX is significantly overvalued ahead of $1.75 trillion IPO target
By
Joseph Wilkins
Crispy enough to crunch, soft enough to enjoy. A good bake.
Summary
Morningstar analysts have warned that SpaceX is "significantly overvalued" ahead of its highly anticipated IPO on the Nasdaq, where the company is reportedly targeting a $75 billion fundraise and a $1.75 trillion valuation. The analysts believe investors will have opportunities to buy the stock at more attractive levels after the IPO, and they also find the economic moat of Musk's xAI venture to be indeterminate.
Key quotes
· 2 pulledWe think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO
The analysts see a wide range of possibilities around xAI and find its 'economic moat indeterminate'
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