The Space X valuation is ludicrous.
If you use sum of the parts
The launch business is worth 150 to 200 billion with a 7 - 12 x revenue multiple.
The Starlink business is worth 400 to 500 billion with a15 to 20x revenue multiple - this is the actual crown Jewel.
I would assign 0 valuation or even a negative valuation to the AI business currently.. loosing money hand over Fist..
To me overall valuation equates to about 500 to 600 billion. Which are already a very optimistic numbers..
Which will translate to maybe 40 to 50$ per share..
Spacex has a long way down to go to reach the true valuation. Hoe Nasdaq allowed it to be listed and how all the funds have to buy it is a crime.
Kudos to S&P on standing their ground and not adding it to their index.
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