Space X IPO if GO!!!

[MillicentFaucet]

Anyone else? I've used £1000 of the tax relief sitting in my SIPP since last month so if it all goes tits up then I won't feel too bad
Edit should be is not if, excitement of gambling with HMRC cash got to me 😁

Not touching it with a bargepole. Elon thinks it's worth $1.75 trillion at IPO; Morningstar and others disagree thinking it's worth less than half that. The big issue - apart from the fact it loses money at the moment - is bundling in xAI (Grok etc) which nobody seems to be able to value. Morningstar described xAI as a "material threat of value destruction".

Space X lost US$ 4.28 billion last quarter, which is a huge downward plunge from the $4.94 it lost in 2025. Even its own S-1 filing admitted that it has “a history of net losses and may not achieve profitability in the future.” A valuation of $1.75trn is 67 times sales, three times that of Nvidia which might, just possibly, be in a bubble itself.

If you really thought SpaceX was a go-er, you'd have bought Scottish Mortgage Investment Trust some time ago. If you want to make money out of Starlink, you'd buy into its supply chain where the guff is filtered out and you can value it based on real metrics - companies like Filtronic.

I was tempted but like @InveterateWineDrinker I read the morning star piece and decided to stand down.

I do however have some Scottish mortgage anyway