Many people ask me about my views on SPCXx;
I have had a deep discussion with GPT about participating in the Space X IPO;
In accordance with the principle of the first stock of human destiny, I still want to participate!
Of course, this is not any investment advice, as I have a retail investor mindset, mainly to boast to my grandchildren in the future that I participated in the first great IPO in human history.
Below are some data and comparisons to help everyone make decisions:
1️⃣ I might invest 100,000 to 200,000 to give it a try;
Currently, the market has over 170 price predictions, which is considerably higher than the original cost of 135, but I feel there is somewhat of a FOMO sentiment;
2️⃣ It is attractive but indeed not cheap:
The fixed price for SpaceX this time is $135 per share, aiming to raise $75B, with a valuation of about $1.75T; Reuters also mentioned that its revenue in 2025 is about $18.67B, with a net loss of $4.94B, which gives a valuation of about 90 times revenue, and this multiple is very high.
Additionally, due to strong market demand, there is about $150B demand supporting the $75B financing, and SpaceX is considering allocating up to about 30% to retail investors, which indicates that there may indeed be a rush for shares and emotional premium in the short term, but it also shows that this is a very crowded trade.
3️⃣ It is not a real stock and has no dividends;
Currently, whether through Kraken or Bybit, what is obtained is SPCXx tokenized equity, not the original stock, has no dividends, and the participation price includes a 5% spread;
If the final IPO price is $135, my actual cost would be about $141.75;
The image below corresponds to the price and the profit loss of my incurred cost.
Considering my style, I might not participate too much, 100,000 to 200,000 is enough to play around.
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