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Chanos Takes a Bearish Stance on SpaceX: Not Worth $1.75 Trillion Regardless
Well-known short seller Jim Chanos has set his sights on the highly anticipated SpaceX IPO, warning that the valuation of this space tech company led by Elon Musk is built on 'hopes and dreams' and lacks justification.
SpaceX is set to go public on Friday in New York, with this IPO aiming to raise $75 billion, achieving a valuation of $1.75 trillion. This will be the largest IPO to date, nearly three times the size of Saudi Aramco's listing in 2019.
"In my opinion, based on any reasonable assumptions for the next five years, the company is not worth $1.75 trillion," Chanos stated on Wednesday at the iConnections conference in New York.
SpaceX is set to go public on Friday in New York, with this IPO aiming to raise $75 billion, achieving a valuation of $1.75 trillion. This will be the largest IPO to date, nearly three times the size of Saudi Aramco's listing in 2019.
"In my opinion, based on any reasonable assumptions for the next five years, the company is not worth $1.75 trillion," Chanos stated on Wednesday at the iConnections conference in New York.
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