this post was submitted on 04 Jul 2026
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419
SpaceX Is Junk. That’s What the Bond Market Says (archive.ph)
submitted 1 month ago* (last edited 1 month ago) by technocrit@lemmy.dbzer0.com to c/technology@lemmy.world
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The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.

Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says

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[–] uriel238@lemmy.blahaj.zone 57 points 1 month ago (11 children)

Once again, the IPO ($135/share or $2.1 Trillion) was based on the success of some long term goals like space-based data centers and a Mars colony of one million permanent residents.

This is from the same guy who promised a fleet of Tesla robotaxis by 2025.

Space experts have since pointed out that the vacuum of space does not sink heat.

Some of the assets thrown into the SpaceX valuation include xAI (which is falling behind OpenAI and Anthropic) and Starlink (which is suffering from congestion problems already and cannot be scaled up).

So this is not unexpected.

[–] Zos_Kia@jlai.lu 6 points 1 month ago

To clarify, the problem with starlink is that the investment is mostly done (they have the projected number of sats in orbit, give or take a couple thousands) so there is no rational reason for them to raise billions in cash.

In a rational world it would now have to prove itself on its own dime.

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