Galloway Says SpaceX Is Worth $10-$30 a Share as Stock Trades at $146

3 articles · Updated · Business Insider · Aug 18

$146 SpaceX shares are still "crazy overvalued," Scott Galloway said, pegging fair value at $10 to $30 despite the stock's retreat from its post-IPO peak.
4% to 5% of shares were initially available for trading, and Nasdaq-100 inclusion forced index-fund buying, Galloway said, creating supply-demand dynamics that inflated the price beyond fundamentals.
$25 billion in bonds sold less than two weeks after the IPO also worries him, even though SpaceX had disclosed $100.8 billion in cash; he said the deal suggests investors are funding an AI-infrastructure narrative tied to the launch business.
$135 was the IPO price, the stock then climbed to $225, fell about 45% to $123, and has since rebounded above the offering price for the past week.
$30 is also where investor George Noble says SpaceX should trade, warning of roughly 79% downside, though Galloway said he would not short the stock because Musk-driven enthusiasm could still push it higher.