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- SpaceX $SPCX Might Be One of the Most Anticipated IPOs Ever. That Doesn’t Mean It’s a Buy.
SpaceX $SPCX Might Be One of the Most Anticipated IPOs Ever. That Doesn’t Mean It’s a Buy.
The Latte, SpaceX edition
George Babis
June 11, 2026
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FY2026 Price Target:
For years, investors have dreamed about owning a piece of SpaceX. It has revolutionized space launches, built the world’s largest satellite internet network through Starlink, and is investing heavily in AI infrastructure.
When the IPO was finally announced, many investors assumed one thing: Buy immediately. And a few months ago, SpaceX looked like one of the most compelling IPO opportunities in recent memory. Then the S-1 filing arrived.
Between an unusually shareholder-unfriendly lockup structure, massive losses inside the AI division, and what appears to be increasing speculation surrounding the offering, the risk-reward does not seem attractive near the IPO. For long-term investors, SpaceX remains one of the most fascinating companies on Earth. For IPO investors, however, the situation looks much less compelling. Let’s take a deeper dive.
🕵️♂️ While most investors were piling into $ORCL ahead of earnings, I was heavily invested in $NAVN, an under-the-radar AI and software play.
→ $ORCL: the consensus pick — currently -10%
→ $NAVN: my conviction pick — +20% post-earnings
Investment Club members had the $NAVN thesis before earnings — entry, sizing, and rationale, in real time.
If you’d like to be part of that conversation ahead of the next one, you can join us here.
George
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