SpaceX IPO Could Open at $1,000 Despite ‘Frothy’ Valuation, NYSE Veteran Predicts

Veteran New York Stock Exchange floor trader Peter Tuchman predicts the SpaceX IPO could open near $1,000, more than seven times its $135 offer price, when the rocket maker debuts this week.

Tuchman still calls the valuation frothy at roughly 100 times earnings. He urges investors to watch the opening trade before committing money.

SpaceX IPO Hype Meets a 100x Multiple

In an interview on the School of Hard Knocks podcast, Tuchman broke down the offering days before SpaceX lists on Nas daq.

The company fixed its price at $135 per share, targeting a $75 billion raise at a $1.77 trillion valuation.

Tuchman, who trades up to $1 billion daily on the NYSE floor, expects scarcity to overwhelm that price on day one.

“It’s going to come out at 135. I would bet it opens at a thousand… just because there’s such a limited supply. So many people want it. It is the flavor of the freaking moment.”

Reported demand of roughly $150 billion, double the raise, supports his read. Fidelity also cut its entry minimum to $2,000, widening retail access to the deal.

The veteran still questions the price tag. By his math, SpaceX comes out near 100 times earnings, while Meta trades at 11 times and Nvidia at 18 times.

“A 100 times earnings to come out is… a little bit frothy at best like a really good cappuccino at Starbucks. It’s way out there.”

He added that “Elon Musk has apparently rewritten the rules on the lockdown,” meaning some insiders cannot sell until Musk allows it. Investors have raised similar questions about the structure.