The SpaceX IPO Picks Winners. It Does Not Fuel Every Space Stock.

SpaceX prices its IPO at a $135 share price and a $1.75 trillion base valuation, rising to about $1.77 trillion if the pending spectrum and Cursor deals close.2 That single comparable resets every space-sector model and favors long the cheap, profitable comp IRDM over a fade of the dream multiple at ASTS.3