The bond market’s assessment also jibes with SpaceX’s stock. It’s a profitless, non-dividend-paying, one-person-controlled, empire-building project trading at more than 100 times sales, about 30 times the valuation of the S&P 500 Index. That’s the very definition of a junk stock.
Original link: https://www.bloomberg.com/opinion/articles/2026-07-02/spacex-is-junk-that-s-what-the-bond-market-says
I completely agree, and don’t think sending trillions of investment dollars to a private company is going to get us anything like the Apollo program did. Maybe we’ll be wrong and some great inventions will arise from the challenge.
Mining asteroids or the moon seem like the next thing, but the cynic in me thinks it will likely just increase wealth inequality.