SpaceX Is Basically a Huge Meme Stock
theatlantic.com
April 14, 2026
5 min read
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45/100
Summary
SpaceX is preparing for an initial public offering (IPO) that could achieve a valuation of $2 trillion, making it potentially the largest IPO in history. Despite current financial losses, the company is expected to become the most expensive stock in the market upon going public.
Key Takeaways
- SpaceX plans to go public with an initial public offering (IPO) that could achieve a valuation of $2 trillion, making it the sixth-most-valuable U.S. company.
- SpaceX's annual revenue was less than $20 billion, and the company lost nearly $5 billion last year, primarily due to high capital costs from its xAI division.
- The price-to-sales ratio for SpaceX at a $2 trillion valuation would exceed 100, significantly higher than other trillion-dollar companies like Nvidia, Alphabet, and Apple.
- SpaceX may allocate up to 30% of its IPO shares to retail investors, who are expected to hold shares longer due to their belief in Elon Musk's vision.
