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Jeremy Grantham calls SpaceX’s IPO the “craziest” in history
Grantham said he is 90% certain SpaceX shares will crash, while pointing to new Nasdaq-100 indexing rules that could still lift the stock.
Investor Jeremy Grantham criticized SpaceX’s IPO as extreme, telling an interview that it will be remembered for the wrong reasons, and describing it as “the craziest IPO in the history of man,” according to Yahoo Finance.
Grantham focused his concerns on SpaceX’s valuation and raised skepticism about the company’s artificial intelligence efforts, including xAI and X, which he characterized as third-rate compared with major AI competitors such as Anthropic and OpenAI.
He said he does not see a near-term stock drop as the most frightening outcome, instead describing a potential future where AI becomes powerful enough to create a high-tech dystopia.
The article also notes that SpaceX shares rose from the IPO starting price of $135 to about $160 per share on launch day, later briefly moving above $200 before trading around $150, and it adds that SpaceX joined the Nasdaq-100 on July 7 after preferential fast-track rule changes.
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