Investor Says $150 Billion SpaceX Valuation Seems Too Good to Be True

"It's hard to bet against Elon," but "there's a lot of leaps of faith you need to make about SpaceX."

SpaceX, Elon Musk's private space exploration company, was recently valued at $150 billion, making it the most valuable private corporation in the U.S. The company in July had an arrangement with investors to sell up to $750 million of stock at $81 per share, up from its last stock price of $77.

SpaceX recently told investors, per The Information, that it expects to see revenue of $8 billion in 2023, a number that would just about double the revenue the company saw in 2022.

But amid these soaring valuations, Greg Martin, the co-founder and managing director of Rainmaker Securities, thinks the company might be a bit overvalued, though he added that it is tough to bet against Musk…Read Full Article