Musk’s $1.8 trillion SpaceX IPO could be ‘highly undesirable’ for some

SpaceX is set to go public on Friday with the largest IPO in history, valued at nearly $1.8 trillion, or $135 per share. The Elon Musk-led company will allocate 20% of shares to retail investors and has drawn about $70 billion in orders. Nasdaq changed its rules to allow SpaceX to enter the Nasdaq-100 index after just 15 trading days, but S&P Dow Jones did not change its rules. Despite enthusiasm, concerns persist about potential overvaluation.