SpaceX IPO Frenzy: The $1.75 Trillion Question

The SpaceX IPO is the most hyped market debut in history. It comes with a $1.75 trillion valuation — nearly 20 times Facebook's, the previous record. In this market update, we break down what investors need to know: how Starlink drives the company's revenue, what a 95x sales multiple really means, and what 20 years of history says about stocks that go public at extreme valuations. There's no telling how the stock performs over the long run, but history is clear about what tends to happen early when valuations run this hot. We also cover how we think about speculative manias like this one - Bitcoin and silver have recently shown what happens when the hype fades. Also covered: a jobs report that more than doubled expectations, job openings jumping by nearly a million, and S&P 500 profit growth on pace for its most impressive year in 25 years.

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