SpaceX Is Basically a Huge Meme Stock

theatlantic.com

April 14, 2026

5 min read

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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.

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