Jeremy Grantham, co-founder of GMO, has issued a stark critique of SpaceX’s impending initial public offering, predicting that future investors will view the valuation as a historical anomaly.
The veteran investor described the upcoming listing as the "most crazy IPO in history," signaling deep skepticism toward the pricing of the aerospace giant as it transitions to public markets.
Earlier this week, shares plunged 23% in early trading sessions, wiping out approximately $600 billion from the company’s market capitalization.
The comments arrive as SpaceX shares have already experienced significant volatility in private trading.
Earlier this week, shares plunged 23% in early trading sessions, wiping out approximately $600 billion from the company’s market capitalization.
The sharp repricing followed the company’s announcement that it would issue bonds for the first time, a move that raised questions about its capital structure and liquidity needs.
Grantham’s warning aligns with his broader bearish stance on the US equity market.