SpaceX IPO: Three of Four Experts Urge Caution Amid $2 Trillion Valuation

SpaceX's mid-June 2026 initial public offering is facing caution from three of four analysts polled by Business Insider, who flagged the company's $2 trillion valuation and lack of profits. Altug Dincturk, CIO at Madison Partners, advises waiting out the IPO frenzy, noting that 64% of new listings from 2010 to 2020 underperformed the market by over 10% in three years. He cited StubHub (STUB) dropping 40% after its debut, versus CoreWeave's (CRWV) 78% gain for patient investors. Anna Rathbun of Grenadilla Advisory and Jon Zetlmaier of Zetlmaier Wealth Management remain on the sidelines: Rathbun wants clearer cash flow growth beyond Starlink, while Zetlmaier contrasts SpaceX's $18 billion revenue and $5 billion net loss with the $335 billion average revenue and $86 billion profit of six $2 trillion peers. Only Rob Arnott of Research Affiliates plans to buy at IPO, counting on index-fund passive buying to lift shares despite a 100-times sales ratio.