Whitney Tilson's Daily
SpaceX's IPO and overvaluation; Adobe's stock drops despite strong earnings; Prediction for my new 'Out-of-Favor 10'
1) Today's headlines are all about the SpaceX IPO... The company, listed as Space Exploration Technologies, began trading on the Nasdaq Composite Index around noon under the ticker SPCX. The stock opened at $150 – 11% higher than its $135 offering price. And it's trading around $170 at the time of writing, giving the company a $2.2 trillion market cap. That makes it the seventh most valuable company in the world. As I detailed last Friday, SpaceX consists of three businesses, two of which are great – satellite Internet constellation Starlink and space launches. But the remaining business, xAI/X/Grok, is […]
June 12, 2026
|Whitney Tilson