Argus

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Jun 09, 2026

Market Outlook

Bullish

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Short

Summary

In what is likely to be the largest IPO in history, Elon Musk's Space Exploration Technologies Corp. is expected to debut on the Nasdaq stock market this week under the ticker symbol SPCX.  SpaceX is expected to raise approximately $75 billion in capital, giving it a value in the $1.75 trillion range. It will immediately become one of the top 10 largest market-cap stocks. Of note, the SPCX offering is expected to see around 30% of the IPO shares allocated for individual investors, which is much larger than typical, particularly for large-sized offering. Will it be a good value? On the near-term metrics, probably not so much. The company has a history of revenue growth, but not profitability. Yet even with revenue of $19 billion last year, the price/sales ratio for SPCX could be a nosebleed at 90-times. Will it be a good investment? Over the longer term, we note that several other mega IPOs have deli

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