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SpaceX’s $1.75trn is ‘stratospherically high’, warns Michael Hewson, senior market analyst at iForex, which might put some investors off taking part in the IPO:
In what looks set to be one of the most hotly anticipated IPOs in years, SpaceX is set to blast off on 12th June as it looks to raise up to $75bn from investors at $135 a share, which would value the company at an eye-popping $1.75trn.
This eye watering valuation looks set to see the business included in the Nasdaq with many questioning how anyone can justify such a stratospheric valuation at this level of fixed price, even before the book building process has started.
“We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO.”
8.30am BST: Eurozone construction PMI for May
9am BST: UK new car sales data for May
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10.30am BST: US ‘Challenger’ jobs cuts data for May
1.30pm BST: US weekly ‘initial claims’ jobless data
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