Recommended Videos
Left Arrow
Larry Kudlow on US-Iran tension: We control the play
Trump declares Iran ceasefire deal 'over' as oil jumps and markets slide
The market got used to the pause with Iran, now we may have something different: Gary Kaltbaum
BNY CEO celebrates Trump Accounts and the future of America’s oldest bank
Trump Accounts demonstrates that families want to be on team America: Brad Gerstner
CFTC chief urges Senate to pass Clarity Act, warns US crypto industry needs regulatory certainty
Rep. Richard McCormick calls for regime change in Iran after President Donald Trump's latest strikes
US trade rep on not renewing USMCA: Trump was never going to rubber stamp this
Trump blasts NATO allies, US revokes Iran oil sales license amid rising oil prices
‘Volatility’ in the AI trade doesn’t concern us: Mainstay Capital Management CEO
Ivana Delevska explains how quant funds cause market overshoots and create opportunities
Founding member of Capitalist Pig reveals 'real wild card' facing markets
Walmart announces major price cuts on groceries, household staples as Trump applauds move
Mike Murphy warns investors of chip stocks: 'Be very careful'
SpaceX's entry into Nasdaq-100 will boost diversification, expert says
The Fed is making the right move for markets, expert says
Markets show global strength as tech rebounds and AI boosts economy
Fed will 'operate better' because of Warsh: Kevin Mahn
Warsh is the new sheriff in town and a reformer, Kevin Mahn says
Gingrich says Speaker Johnson must build the right tax package
Right Arrow
FOX News Player

People will get exposure to SpaceX one way or another: Horizon Investments CIO
00:00
00:0006:19GO LIVE
Embed
SpeedNormal
Autoplay
People will get exposure to SpaceX one way or another: Horizon Investments CIO
Horizon Investments CIO Scott Ladner discusses the future of SpaceX in the market on 'The Claman Countdown.'
SpaceX has been fast-tracked into the Nasdaq-100 Index, meaning the stock performance of Elon Musk’s rocket company is now directly tied to the retirement accounts, mutual funds and portfolios of millions of everyday American investors.
But self-proclaimed market "permabear" and GMO co-founder Jeremy Grantham is heavily skeptical of the company's valuation and long-term investment thesis.
"Everyone’s lining up to tell you to buy the craziest IPO in the history of man," Grantham told Morningstar’s "The Long View" podcast. "In 50 years, they’ll be telling and writing stories about SpaceX, and they’ll be quoting you paragraphs from the prospectus, and you will be laughing at it."
D.O.G.E. WEBSITE DEACTIVATES AFTER REACHING SELF-TERMINATION DEADLINE: ‘COME TO AN END’
"In the end, the reality will come out, and this will turn out to be, of course, one of the landmark historical events that I so value in history looking back," Grantham continued. "It will be amazing, by the way, if it doesn’t collapse, because it will need such massive developments on AI that our entire lives are totally different."

GMO founder Jeremy Grantham warns that investors "will be laughing at" SpaceX's stock valuation in the future. (Getty Images)
SpaceX made its IPO debut on June 12, and began trading at $150 a share, above its listing price of $135 a share. As of midday Wednesday, the stock hovered around $149 per share and was down nearly 7% month-to-date.
Goldman Sachs, JPMorgan and Morgan Stanley have posted bullish forecasts for SpaceX's valuation, Fortune reported, with price targets ranging from $205 to $300 per share.
Grantham also criticized Wall Street's advice for clients to buy SpaceX, adding that even if the market ultimately validates the elevated share price, society will become a "strange one" where "we’ll be lucky not to be bossed around by our automaton friends."
Elon Musk celebrates SpaceX IPO, jokes about early low odds of success
Elon Musk speaks on SpaceX's journey and vision for the future ahead of the company's IPO.
SpaceX's quick addition to the Nasdaq-100 Index has affected its stock performance, with Grantham also saying, "What that means is there’ll be a lot of people who have to buy it for any index that is Nasdaq-y. So there’ll be much more demand than there are sellers."
"So supply and demand being what it is, it’s hard to imagine the price won’t go up, and perhaps it will go up a lot," Grantham said.
SpaceX's IPO raised $75 billion and was the largest IPO in history, surpassing Saudi Aramco's $29 billion IPO in 2019.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
SpaceX's entry into Nasdaq-100 will boost diversification, expert says
Constellation Research founder R 'Ray' Wang discusses SpaceX joining the Nasdaq-100 and the triopoly of the memory chipmakers on 'Varney & Co.'
The IPO cemented Musk's status as the world's richest person, pushing the value of his holdings toward $1 trillion, a milestone no individual has previously reached.
Founded by Musk in 2002, SpaceX has grown into the world's largest space company and a dominant force in commercial launch services. The company pioneered reusable rocket technology, helping lower launch costs and reshape the economics of the space industry. It has also become a key contractor for NASA and the U.S. government through civil and national security missions.
FOX Business’ Eric Revell and Bradford Betz contributed to this report.

a5728063363743744.cdn.optimizely.com
a5728063363743744.cdn.optimizely.com is blocked
This page has been blocked by an extension
- Try disabling your extensions.
ERR_BLOCKED_BY_CLIENT
Reload
This page has been blocked by an extension
XD Channel
Fox News
Read Original at Fox Business →






















