To The Moon

This Thursday, Starship V3 is expected to launch from Boca Chica, Texas. In the same week, SpaceX’s IPO filing will go public — roadshow on June 4, pricing on June 11, and official Nasdaq listing on June 12 under ticker $SpaceX(IPO001)$ . Meanwhile, $Rocket Lab USA, Inc.(RKLB)$, $Firefly Aerospace Inc.(FLY)$ and $Voyager Technologies, Inc.(VOYG)$ all rallied Monday before pulling back Tuesday. What do you think about the $1.75 trillion valuation? Musk merged SpaceX and xAI earlier this year, and the implied valuation is now over $1.75 trillion, with a potential price-to-sales ratio above 70x. For comparison: Facebook IPO day valuation: $104B Alibaba IPO day valuation: $231B If SpaceX lists at target valuation, it would become the first trillion-dollar IPO in history. The underwriting syndicate is stacked: Goldman Sachs (lead left), Morgan Stanley, BofA, Citi, and JPMorgan lead the deal, joined by Allen & Co, Mizuho, RBC, UBS, and others — 21 investment banks total. So what exactly is being priced into that 70x sales multiple? Starship + Global Starlink coverage + xAI + space computing narrative. All of those stories may hold true long term, but whether they justify this valuation today is another question entirely. Would you buy on IPO day? The instinctive answer is obviously yes. Ten years ago: Buy $1M of $NVIDIA(NVDA)$ → now worth $42.8M; Buy $1M of $Tesla Motors(TSLA)$ → now worth $26.6M Now SpaceX ($SPCX$) arrives — “the biggest IPO in history.” But others argue no: The valuation already prices in the entire “Mars premium”. Early VC and institutional investors taking profits will create real selling pressure. The 6-month lockup expiration could trigger another major wave of supply A more patient strategy: Wait 1–3 months after IPO, let the hype cool down, and let the price settle into a more rational range. If you really want exposure, use money you can afford to lose completely, and build the position gradually instead of betting everything at one entry point. Alternative ways to play the IPO before listing Before buying $SPCX$ directly, several publicly traded space names are worth watching: $Rocket Lab USA, Inc.(RKLB)$ : $127.31, up +82% YTD, quarterly backlog +108% YoY $Firefly Aerospace Inc.(FLY)$ : $42.57, up +90% YTD, rallied 9% Monday before pulling back 3% Tuesday $Voyager Technologies, Inc.(VOYG)$ : $37.57, up +44% YTD, broke above a 33.94 buy point on May 13 These names have already partially priced in SpaceX IPO enthusiasm. Tuesday’s pullback looks more like normal profit-taking than a fundamental reversal. How do you see the SpaceX IPO playing out? Will it spike and dump on day one, or actually break historical records? Do you think a $1.75 trillion valuation is justified — or purely sentiment-driven at this stage? Would you wait for a pullback, or use names like $RKLB$ and $FLY$ to position early for the space trade?