What Happened
Elon Musk's Conglomerate Faces Uncertainty Amid High Expectations
The highly anticipated SpaceX IPO has raised $75 billion and valued the company at over $2 trillion, with Elon Musk’s net worth exceeding $1 trillion. However, despite the initial hype, some experts believe the stock may fizzle due to concerns over the company’s financial performance, including a loss of nearly $5 billion in 2025. The IPO’s success was largely driven by institutional investors, but retail investors are also being targeted, which may lead to a correction in the stock price. This development was first reported by the New York Post.