This post is out of date. Musk and his bankers are now shooting for a $1.77 trillion valuation and they are making it easier for retail investors (ie easy marks) to buy into the IPO. So the valuation is now over 90x Space X revenues - way into the stratosphere!!
The Space X IPO is this week. The asking price values the company at $1.75 trillion. The offering is oversubscribed. This for a company with $18.7 billion in revenues that lost $4 billion last year. No rational model supports this valuation, but we don’t live in a rational world. Tulip bubble.
