Some thoughts on mega IPOs and market indices...🚀

Ultimately, the market will do its work ⚖️

Space Exploration Technologies (SpaceX) has set the price of its initial public offering (IPO) at $135 per share, giving the company a $1.77 trillion valuation.

The company is currently unprofitable.

But its valuation suggests investors are wagering that it will continue to grow its profitable Starlink service, capitalize on the massive potential opportunity in AI, and eventually achieve at least some of its other almost unbelievably ambitious goals — like establishing “a permanent human colony on Mars with at least 1 million inhabitants.”