{"id":383046,"date":"2026-06-15T14:02:41","date_gmt":"2026-06-15T12:02:41","guid":{"rendered":"https:\/\/prostartup.it\/div-spacex-gains-6-in-premarket-after-record-debut-heres-whats-driving-the-valuation-debate-div\/"},"modified":"2026-06-15T14:02:41","modified_gmt":"2026-06-15T12:02:41","slug":"div-spacex-gains-6-in-premarket-after-record-debut-heres-whats-driving-the-valuation-debate-div","status":"publish","type":"post","link":"https:\/\/prostartup.it\/ru\/div-spacex-gains-6-in-premarket-after-record-debut-heres-whats-driving-the-valuation-debate-div\/","title":{"rendered":"SpaceX gains 6% in premarket after record debut. Here&#8217;s what&#8217;s driving the valuation debate"},"content":{"rendered":"<div>\n<div><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=240&resize=240&ssl=1 240w, 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https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i3.wp.com\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg?v=1781523667&w=1920&h=1080&ssl=1\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"RelatedQuotes-relatedQuotes\" id=\"RegularArticle-RelatedQuotes\">\n<div class=\"RelatedQuotes-quotesContainer\">\n<div class=\"RelatedQuotes-titleAndTime undefined\">\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<\/div>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"QuoteItem-symbol\">SPCX<\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"RelatedQuotes-cfaButtonContainer\"><button id=\"ArticlePageTickerCreateAccountButton\" class=\"CreateFreeAccountButton-buttonContainer\"><span class=\"CreateFreeAccountButton-buttonText\"><span>Follow your favorite stocks<\/span><span class=\"CreateFreeAccountButton-buttonTextBold\">CREATE FREE ACCOUNT<\/span><\/span><\/button><\/div>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108321362\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">SpaceX CEO Gwynne Shotwell and executives ring the Opening Bell at the Nasdaq on June 12th, 2026.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Adam Jeffery | CNBC<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\">SpaceX<span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> shares jumped in premarket trading on Monday following its record-breaking debut last week on the Nasdaq, which marked the biggest initial public offering in history.<\/p>\n<p>Shares of SpaceX were around 6% higher at the start of premarket trading, hovering around the $170 mark. <\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>SpaceX jumped 19% on Friday with the stock closing at $161 after being priced at $135 per share. That put the company&#8217;s market capitalization above $2 trillion. <\/p>\n<p>Elon Musk&#8217;s space company operates the Starlink satellite internet service and a fleet of reusable rockets. In February, Musk merged the company with his artificial intelligence startup xAI. SpaceX lost nearly $5 billion in 2025 and the blockbuster IPO has sparked debate over whether the company&#8217;s huge valuation is justified.<\/p>\n<\/div>\n<h2 class=\"ArticleBody-subtitle\">Valuation a key concern<\/h2>\n<div class=\"group\">\n<p>CFRA on Friday initiated coverage of the stock with a &#8220;sell&#8221; rating and a 12-month price target of $115, which is a nearly 29% drop from Friday&#8217;s closing price. CFRA said its view was &#8220;due to the company&#8217;s extremely ambitious growth strategy, elevated valuation expectations, and significant capital intensity.&#8221; <\/p>\n<p>SpaceX&#8217;s capital expenditures in the three months ended March totaled $10.1 billion versus $4.1 billion in the same period last year. The majority of that went toward artificial intelligence. <\/p>\n<p>Morningstar analyst Nicolas Owens released a note on June 8, in which he said the firm values SpaceX at $63 per share, and described the stock as &#8220;overvalued.&#8221;<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>Paulina Roszkowska, lecturer in finance at Bayes Business School, told CNBC&#8217;s &#8220;Europe Early Edition&#8221; that SpaceX has made &#8220;a lot of promises,&#8221; but at some point that will need to turn into cash flow. <\/p>\n<p>&#8220;Aside [from] those phrases about data centers in the orbit, which are high promises, if you are asking for 70, 80 billion contribution, I think that you owe investors a little bit more than poetry,&#8221; Roszkowska said.<\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-108321740\"><\/div>\n<div class=\"group\">\n<p>The IPO prospectus lacks details on governance or execution risks, she said. &#8220;So I am wondering what are these promises based on,&#8221; Roszkowska said. <\/p>\n<p>However, other analysts are more bullish on the stock. NewStreet Research initiated coverage of SpaceX with a $165 price target. <\/p>\n<p>&#8220;Can you look [at] this business, let&#8217;s say, over a longer time frame than you would over most equities to justify to get to the current valuation? We think you can,&#8221; James\u00a0Ratzer, partner and senior analyst at NewStreet Research, told CNBC&#8217;s &#8220;Squawk Box Europe&#8221; on Monday.<\/p>\n<p>&#8220;But we think you have to be looking out over a kind of 20 to 25-year time frame. I think a lot of the building blocks are in place to succeed, but it is definitely a much longer-dated equity story than most.&#8221;<\/p>\n<\/div>\n<div class=\"withOneTrustPlaceholder-placeholderDimensions OneTrustLoadingPlaceholder-container\"><span class=\"DynamicLoadingIndicator-spinnerParent\" data-test=\"DynamicLoadingIndicator\" data-testid=\"DynamicLoadingIndicator\"><span class=\"DynamicLoadingIndicator-spinner\" style=\"width:40px;height:40px\"><\/span><\/span><\/div>\n<div class=\"group\">\n<p>Ratzer said SpaceX has &#8220;at least a 10-year lead&#8221; over competitors when it comes to its rocket launch capabilities. <\/p>\n<p>&#8220;When you look at SpaceX and driving what&#8217;s needed to succeed on Starlink on direct-to-cell &#8230; orbital data centres, everything has to hinge back to success on launch, and you look at what they&#8217;re building with Starship, the advantage they will have with that, the mass they can put into orbit is a huge advantage,&#8221; Ratzer told CNBC.<\/p>\n<p>Starship is SpaceX&#8217;s latest generation launch vehicle. Orbital data centers refer to SpaceX&#8217;s plans to build data centers in space for AI. <\/p>\n<p>&#8220;We think, for example, in just over the next four to five years, he [Musk] will still have about 90 to 95% of all launch capacity that&#8217;s going on in space,&#8221; Ratzer said.<\/p>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n<div class=\"ArticleBody-googlePreferredSourceContainer\" data-module=\"GooglePreferredSource\" data-id=\"RegularArticle-GooglePreferredSource-5\">\n<div class=\"ArticleBody-googlePreferredSourceBorder\"><\/div>\n<p>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/p><\/div>\n<hr \/>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this article SPCX Follow your favorite stocksCREATE FREE ACCOUNT SpaceX CEO Gwynne Shotwell and executives ring the Opening Bell at the Nasdaq on June<\/p>","protected":false},"author":1,"featured_media":383047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/108321362-1781523655986-108321362-1781289229287-IMG_9274.jpg","fifu_image_alt":"<div>SpaceX gains 6% in premarket after record debut. Here's what's driving the valuation debate<\/div>","footnotes":""},"categories":[11],"tags":[2227,1965,2471,481,2177,1312],"class_list":["post-383046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inv-business","tag-debate","tag-debut","tag-driving","tag-gains","tag-record","tag-spacex"],"_links":{"self":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts\/383046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/comments?post=383046"}],"version-history":[{"count":0,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/posts\/383046\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/media\/383047"}],"wp:attachment":[{"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/media?parent=383046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/categories?post=383046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prostartup.it\/ru\/wp-json\/wp\/v2\/tags?post=383046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}