Connect with us
DAPA Banner
DAPA Coin
DAPA
COIN PAYMENT ASSET
PRIVACY · BLOCKDAG · HOMOMORPHIC ENCRYPTION · RUST
ElGamal Encrypted MINE DAPA
🚫 GENESIS SOLD OUT
DAPAPAY COMING

Business

Uday Kotak questions SpaceX valuation, says only time will tell if we’re in ‘mega bubble’

Published

on

Uday Kotak questions SpaceX valuation, says only time will tell if we're in ‘mega bubble'
As SpaceX’s blockbuster stock market debut vaulted the company into the ranks of the world’s most valuable firms and made Elon Musk the world’s first trillionaire, Indian billionaire banker Uday Kotak posed a question: Are investors betting on the future of humanity, or are they witnessing a mega bubble in the making?

Reacting to SpaceX’s IPO and listing, the Kotak Mahindra Bank founder said the listing is “a true test for capitalism”, arguing that the company’s valuation cannot be explained through conventional frameworks. “The valuation does not fit any traditional matrix and is a huge bet on the future course of planet earth,” he said. “Only time will tell whether we, the human race, have arrived into the fairy tale world we grew up in as children, or are in a mega bubble,” he wrote in a post on X, formerly Twitter, on Saturday.

While questioning how markets should value a company such as SpaceX, Kotak also praised both Musk and the United States for making such an outcome possible. “Either ways, kudos to the man who came as an immigrant, and to the country that has allowed such boundless creativity to flourish despite all the risks it embeds,” he wrote.

SpaceX debut

Kotak’s comments came after a stellar debut that instantly propelled Elon Musk’s rocket and satellite company into the ranks of the world’s most valuable firms.

Advertisement

After raising $75 billion in the biggest initial public offering ever, SpaceX began trading under the ticker SPCX at $150, an 11% premium to its IPO price of $135. The stock surged as high as $176.52 during the session before ending the day at $160.95, a gain of nearly 19% from the offer price.

That rally was enough to rocket SpaceX into seventh place among the world’s most valuable listed companies. With a market value of about $2.1 trillion at Friday’s close, SpaceX now sits just behind Taiwan Semiconductor Manufacturing Co. (TSMC), which is valued at $2.9 trillion.


Investor demand was evident throughout the session. More than 500 million shares changed hands on debut, a figure that approached Facebook’s first-day trading volume of about 580 million shares in 2012.

SpaceX share demand surges further

The momentum did not stop when the closing bell rang. SpaceX shares continued climbing in extended trading, rising close to 3.5% to $166.76 as of 6:30 p.m. ET.
Roughly 16 million shares changed hands in post-market activity, adding to the more than 500 million traded during regular hours. The after-hours advance lifted the company’s market capitalization by another $80 billion to around $2.2 trillion.

SpaceX lifts Elon Musk into trillionaire territory

The blockbuster debut also marked a watershed moment for Musk personally. The surge in SpaceX shares pushed his net worth to $1.11 trillion, making him the world’s first trillionaire.According to the Bloomberg Billionaires Index, Musk’s fortune now exceeds the combined wealth of Larry Page, Sergey Brin, Jeff Bezos and Larry Ellison. Together, the four billionaires are worth $1.089 trillion, less than Musk’s estimated net worth of $1.11 trillion.
According to a CNBC report, Data from VandaTrack showed SpaceX was the most-bought stock by retail traders on a net basis during Friday’s session, while it was also among the most-discussed names on Reddit’s WallStreetBets forum ahead of the listing.

Advertisement

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Zeta Global: Why This AI Platform Is Just Getting Started (NYSE:ZETA)

Published

on

Zeta Global: Why This AI Platform Is Just Getting Started (NYSE:ZETA)

This article was written by

Dear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and risk-managed portfolio construction. My professional background covers both institutional and private client asset management, where I have advised on and implemented multi-asset strategies, but highly focusing on equities and derivatives.As you might be as well, I am a stock market enthusiast. My core passion lies in understanding how macro trends influence both asset prices and investor behavior. I closely follow EU and US central bank policies, sector rotation, and sentiment dynamics, and construct actionable investment strategies.BA in Financial Economics, MA in Financial Markets. In the past decade, I have navigated through various market conditions, and this was my PhD.One of the essential goals of writing on Seeking Alpha is to share insights with colleagues, fellow investors, exchange ideas, and become slightly better than yesterday. I contribute to the idea that investing should be accessible, inspiring, and empowering. It might sound like a cliche, I know, but in the end it’s highly valuable – so let’s help each other build confidence in long-term investing. The analysis and opinions shared in my articles and comments are for informational purposes only and should not be considered financial advice. Please do your own research before making any investment decisions.Thank you and have a lovely day!Best regards

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in ZETA over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Japan moves toward first-ever consumption tax cut, adds to fiscal strain

Published

on

Japan moves toward first-ever consumption tax cut, adds to fiscal strain


Japan moves toward first-ever consumption tax cut, adds to fiscal strain

Continue Reading

Business

BMW shares slide after China weakness, Iran war prompt profit warning

Published

on

BMW shares slide after China weakness, Iran war prompt profit warning


BMW shares slide after China weakness, Iran war prompt profit warning

Continue Reading

Business

At Close of Business podcast June 17 2026

Published

on

At Close of Business podcast June 17 2026

Sam Jones and Nadia Budihardjo discuss the Asian engagement feature in the recent Business News magazine.

Continue Reading

Business

King doubles down on BHP strike support

Published

on

King doubles down on BHP strike support

Resources Minister Madeleine King used a visit to Perth to reaffirm her support for strike action at BHP’s Port Hedland operations, which could cost the miner up to $120 million per day.

Continue Reading

Business

Ubtech Robotics: Site Visit Takeaways – Multiple Catalysts Ahead, Maintain Buy

Published

on

Baidu: Pivoting To AI Infrastructure, Robotaxis, And Embodied Robotics At A Discount

Ubtech Robotics: Site Visit Takeaways – Multiple Catalysts Ahead, Maintain Buy

Continue Reading

Business

Green light for $1b Gingin battery

Published

on

Green light for $1b Gingin battery

A team led by former Macquarie Capital bankers has cleared a planning hurdle to build a $1 billion battery energy storage system near Gingin.

Continue Reading

Business

Jeremy Clarkson shares ‘aggressive’ cancer diagnosis

Published

on

Business Live

The Hawkstone brewery co-founder confirmed the news on his hit television show Clarkson’s Farm

Jeremy Clarkson with Hawkstone beer

Jeremy Clarkson with a Hawkstone beer(Image: Handout)

Jeremy Clarkson has announced he has been diagnosed with cancer. The former Top Gear presenter and Hawkstone brewery co-founder revealed the news in the latest episodes of season five of Clarkson’s Farm.

He disclosed that the disease was “aggressive” but had been caught at an early stage.

Advertisement

“I’ve got cancer,” Clarkson told farm manager Kaleb Cooper and farmhand Charlie Ireland during discussions about harvest planning.

The TV presenter-turned-farmer said he anticipated being “fine” but would be out of action “for a while”.

Speaking from a hospital bed at the close of the season finale, Clarkson explained he had encountered complications throughout his treatment.

“We started season five with me in a hospital bed and here we are at the end of season five and I’m back in a hospital bed,” he said.

Advertisement

The 66-year-old reflected on the future of the show.

“What I wanted to say was if this is all successful, I’ll see you for season six, and if it isn’t, I won’t,” he said. “Take care, everyone.”

The revelation comes nearly two years after Clarkson underwent a cardiac procedure.

Clarkson’s Farm follows the veteran television presenter and his team as they tackle the trials and tribulations of running Diddly Squat Farm near Chipping Norton, Oxfordshire.

Advertisement

Since taking on the running of his farm in 2019 and subsequently launching his hugely popular reality series, Clarkson has become a prominent champion of British farmers, attending a protest in London against the Government’s plans to impose inheritance tax on farmland in November 2024.

The programme’s sixth series is scheduled to broadcast in 2027.

Clarkson has also found success with his brewery business. Earlier this month, Gloucestershire’s Hawkstone was named the fastest-growing private business in the South West of England by the Sunday Times.

Hawkstone topped the Sunday Times 100 regional list after making £44.9m in sales in the year to March – a staggering 128.19 per cent average annual growth in the last three years.

Advertisement
Continue Reading

Business

Barclays lifts Stoxx 600 target to 670, upgrades Luxury after US-Iran deal

Published

on


Barclays lifts Stoxx 600 target to 670, upgrades Luxury after US-Iran deal

Continue Reading

Business

Numans to build $30m caravan park and tourism project in Collie

Published

on

Numans to build $30m caravan park and tourism project in Collie

A development assessment panel has approved Numans Accommodation Villages’ plan to build a $30 million caravan park in Collie.

Continue Reading

Trending

Copyright © 2025