"The median tech IPO is actually down 7.4% 6 months after its first trading day and was still down 3.5% a full year later."

… And on the surface, the returns have been pretty incredible. Like the average IPO company was up 248% in just 5 years. But the catch here is that the average is skewed up heavily by a few incredible winners like Shopify and Palanteer, which have both increased by thousands of percent. So when you take those out of the equation, believe it or not, the median tech IPO is actually down 7.4% 6 months after its first trading day and was still down 3.5% a full year later. On top of that, when it comes to SpaceX specifically, the reason that some of the big winners like Shopify and Palanteer did so well is because they IPOed small and then they grew into hundred billion dollar market giants. But SpaceX is already trading at over a $2 trillion valuation, meaning that 30x returns from here are extremely unlikely. And …

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