SpaceX IPO Lights Up Markets, but Skeptics Question the Valuation

SpaceX's IPO rose on debut, buoyed by anticipated demand from index funds and potential price squeezes, but true pricing remains uncertain as insiders may release a large stock tranche after earnings and a lofty $1.75 trillion valuation faces scrutiny. At the same time, the “Magnificent 7” thesis is fading as Nvidia drives AI-driven gains while SpaceX remains out of the S&P, signaling a shift away from mega-cap-centric market narratives.