Based on the IPO table, SPCX looks not a single IPO but a flurry of sequential IPOs of millions of shares which progressively flood and dilute the market. In addition, how many debt raisings are going to happen, we don’t know. SpaceX business is solid, but question is how and when the integrated business model will become profitable and investors can reap benefits. Remember the saying that past performance is not a guarantee for future success!
One Musk Empire, or a Dilution Trap for Tesla Holders?
SpaceX gained 7.79% and Tesla 3.41% on an unconfirmed report that Elon Musk wants to merge the companies before President Trump leaves office. Bulls see shared capital across satellites, AI compute, energy, autonomy, and robotics, plus direct Starlink exposure for Tesla holders. Bears flag governance, valuation, regulation, dilution, and the after-hours pullback. Would lower ecosystem friction outweigh the merger risks?
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