https://k4i.com/tags/bubble/ Recent content in Bubble on k4i.com Hugo en-us Sat, 06 Jun 2026 00:00:00 +0000 https://k4i.com/spacex-at-1.75-trillion-the-ipo-that-reprices-the-whole-market/ Sat, 06 Jun 2026 00:00:00 +0000 https://k4i.com/spacex-at-1.75-trillion-the-ipo-that-reprices-the-whole-market/ <p>On June 12, Space Exploration Technologies Corp. lists on the Nasdaq under the ticker SPCX. The offering is already oversubscribed. It is priced at a fixed $135 per share with no bookbuilding range — a deliberate break from convention that tells you the company believes demand exceeds anything price discovery would surface. SpaceX is selling roughly 555.6 million shares to raise $75 billion at a $1.75 trillion valuation, more than twice Saudi Aramco&rsquo;s 2019 record and the largest IPO in market history by a wide margin. Morningstar&rsquo;s independent fair value estimate is $780 billion. The 55% gap between those two numbers is not a footnote. It is the entire question, and on June 12 it stops being theoretical for everyone holding a Nasdaq index fund.</p>