--- title: "Top Analyst Predicts Initial 'Pop' For SpaceX Investors Following IPO Due To Nasdaq 100, S&P 500 Boost—Questions $2 Trillion Market Cap" type: "News" locale: "en" url: "https://longbridge.com/en/news/287518889.md" description: "Investor Gary Black predicts that SpaceX's IPO could lead to an initial boost for investors due to expedited inclusion in the Nasdaq-100 and S&P 500 indices. However, he expresses concerns over SpaceX's $2 trillion valuation, citing its earnings and high EBITDA multiple. Black also warns that the IPO might detract from Tesla's focus, while some suggest a merger between the two companies, which he opposes due to potential value reduction for Tesla." datetime: "2026-05-25T09:40:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287518889.md) - [en](https://longbridge.com/en/news/287518889.md) - [zh-HK](https://longbridge.com/zh-HK/news/287518889.md) --- # Top Analyst Predicts Initial 'Pop' For SpaceX Investors Following IPO Due To Nasdaq 100, S&P 500 Boost—Questions $2 Trillion Market Cap Investor **Gary Black** of **The Future Fund LLC** has said that SpaceX investors could initially benefit following the IPO, as expedited inclusion in the Nasdaq-100 and S&P 500 indices could provide a boost. ## Gary Black On SpaceX IPO In a post on X on Saturday, the investor said he considered SpaceX “overpriced at $2T valuation,” citing the company’s earnings of $6.6 billion and revenue of $18.7 billion. **Read Also: Elon Musk Says Starlink Will One Day End Up Becoming The Internet And 'Everything Else' Will Just Connect To It: Here's Why The SpaceX CEO Said That** However, the investor acknowledged factors that could “engineer a first day IPO pop for investors who are allocated shares,” like a faster listing on the indices, as well as the “distribution power” offered by **Goldman Sachs Group Inc.** (NYSE:GS) and **Morgan Stanley** (NYSE:MS) as the lead underwriters. “The relatively low % float to be issued in the SPCX IPO (4%),” could also provide a boost, Black said. ## Valuation Concerns In a separate post on X, Black shared his concerns with SpaceX’s valuation. “I don't know of a single company with a $2T market cap that doesn't make money,” he said, also slamming the company’s 300x EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). “That should give potential $SPCX investors pause,” he said. **Read Also: Tesla Investor Shares How Retail Investors Can Participate In Blockbuster SpaceX IPO Via Robinhood, Sofi** ## SpaceX IPO The comments come as SpaceX’s IPO could also potentially be detrimental for **Tesla Inc.** (NASDAQ:TSLA) investors, as experts suggest the listing could take investments, as well as CEO **Elon Musk**‘s attention away from the EV giant. On the other hand, some investors suggest the companies should merge. **Dan Ives**, who is the managing director of **Wedbush Securities** and a Tesla bull, has advocated for a merger between the two, most recently predicting that there was an 80% chance that the two companies would merge. However, Black has been against the idea of Tesla merging with SpaceX, sharing concerns that the deal could lead to Tesla’s value being reduced by 25%. **Read Also: Gary Black Explains Why He's 'Not Interested' In SpaceX IPO Despite All The Hype, Investor Explains When He's Likely To Buy The Stock** _Check out more of Benzinga's Future Of Mobility coverage by_ following this link. _Image via Shutterstock_ ### Related Stocks - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [TSL.US](https://longbridge.com/en/quote/TSL.US.md) - [QQQM.US](https://longbridge.com/en/quote/QQQM.US.md) - [QQQ.US](https://longbridge.com/en/quote/QQQ.US.md) - [UPRO.US](https://longbridge.com/en/quote/UPRO.US.md) - [ONEQ.US](https://longbridge.com/en/quote/ONEQ.US.md) - [VOO.US](https://longbridge.com/en/quote/VOO.US.md) - [QQEW.US](https://longbridge.com/en/quote/QQEW.US.md) - [TSLG.US](https://longbridge.com/en/quote/TSLG.US.md) - [TSLL.US](https://longbridge.com/en/quote/TSLL.US.md) - [SPY.US](https://longbridge.com/en/quote/SPY.US.md) - [IVV.US](https://longbridge.com/en/quote/IVV.US.md) - [TESL.US](https://longbridge.com/en/quote/TESL.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [MGV.US](https://longbridge.com/en/quote/MGV.US.md) - [MGK.US](https://longbridge.com/en/quote/MGK.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [MS.US](https://longbridge.com/en/quote/MS.US.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) - [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md) - [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md) - [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md) - [MS-I.US](https://longbridge.com/en/quote/MS-I.US.md) - [MS-L.US](https://longbridge.com/en/quote/MS-L.US.md) - [MS-P.US](https://longbridge.com/en/quote/MS-P.US.md) - [MS-A.US](https://longbridge.com/en/quote/MS-A.US.md) - [MS-F.US](https://longbridge.com/en/quote/MS-F.US.md) - [MS-K.US](https://longbridge.com/en/quote/MS-K.US.md) ## Related News & Research - [SpaceX files for record $1.75T IPO as analysts warn on risks](https://longbridge.com/en/news/287627619.md) - [SpaceX says it may issue ‘significant’ equity in ‘future transactions’](https://longbridge.com/en/news/288303426.md) - [Constant Guidance Financial LLC Acquires Shares of 3,748 Tesla, Inc. $TSLA](https://longbridge.com/en/news/287882771.md) - [Tesla new car sales in Italy down 23.5% year-on-year in May](https://longbridge.com/en/news/288303635.md) - [New Tesla sales in Spain more than double year-on-year in May](https://longbridge.com/en/news/288261338.md)