What "should I subscribe at 135" actually means
Most people are debating the SpaceX IPO as a ticker. The better question is what the 1.75 trillion price tag asks you to believe.
Two engines
The launch business is a near-monopoly: reusable rockets, Falcon 9 cadence, real profit. Defensible. The second engine is Starlink and Starship economics, where most of the valuation sits and where execution is still being written.
So, subscribe at 135?
Subscribing at the offer is really a bet that the second engine compounds fast enough to justify paying up before the market settles and before lockups expire. If your horizon is a decade, day-one price matters less. If you are chasing the pop, that is a different and riskier game. Separate the company you admire from the price you are asked to pay.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
