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SpaceX goes public Friday at ~94x revenue. Across 45 years of data, IPOs that debut above 40x sales underperform the market by 58% over the …
SpaceX goes public Friday at ~94x revenue. Across 45 years of data, IPOs that debut above 40x sales underperform the market by 58% over the next 3 years, and by 76% style-adjusted. The golden rule of
SpaceX goes public Friday at ~94x revenue. Across 45 years of data, IPOs that debut above 40x sales underperform the market by 58% over the next 3 years, and by 76% style-adjusted. The golden rule of IPO investing: the lower the price-to-sales at entry, the better the long-run return.
Source: Gary Marcus (X) | 2026-06-08