Post by Augustine Chiagozie (@pabloexchange)

🐕 Analyst compares SpaceX to Dogecoin as shares keep falling

Mark Yusko, CEO of Morgan Creek Capital, says SpaceX's $2 trillion valuation is disconnected from reality, comparing the company to Dogecoin because of its concentrated ownership and investor enthusiasm.

Yusko argues that SpaceX, along with OpenAI and Anthropic, is trading at valuations that cannot be justified by future earnings. He also expects the stock to come under more pressure as lock-up restrictions expire and early investors gain the ability to sell.
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SpaceX shares have fallen more than 12% over the past week and nearly 28% over the past month after a strong IPO debut.
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Despite the criticism, Wall Street remains largely positive. 22 of 28 analysts still rate the stock as a Buy, while only one currently recommends Sell.

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