I think the point is more that the Space X IPO is overpriced for the same reason milk is overpriced: a bunch of rich people have been devastating everyone else’s back ends extra hard recently, resulting in an economy that is not only inflated but has a completely loony price skew.

My bank had been sending me emails about the IPO. Of course, they ARENT to warn consumers that what was once a valuable company (Space X does actually have utility and until recently was decently profitable) has been forcibly married into so many of Musk’s failures (Grok, X, pretty sure there was something else) and had it’s valuation ballooned by volatile AI hype that it’s almost certainly just an opportunity to dump an increasingly red line-item off Elon’s books and onto the bagholders general public’s automated ETF funds (because he extorted the NASDAQ into breaking its own rules to list on an exchange that people trusted enough to not allow fraud like this that they put their retirement into auto-buying and -selling securities based on its data). NO, besides the tiny disclaimer that they put on every correspondence with their customers to research and learn about the risks themselves (which is good of them to do, but pretty sure is required by law anyway) they then go on to basically advertise how to buy into the IPO, even though it’s listed in a different country and standard retail investors like myself normally have to jump through a couple hoops before investing in global markets. It’s downright irresponsible!