If you think that Tesla was too strong on investor protections and would like to have your say as a co-owner of the company diluted into irrelevance, SpaceX is the (meme) stock for you:
"SpaceX has adopted corporate governance policies that will erode typical shareholder protections in unprecedented ways, giving founder Elon Musk virtually unchecked executive authority when the rocket maker goes public later this year."
"Excerpts of SpaceX's IPO registration statement reviewed by Reuters show the company is combining supervoting shares, mandatory arbitration, stricter rules on shareholder proposals and Texas corporate law to give Musk and other insiders broad control. At the same time, it sharply limits investors' ability to challenge management, sue in court and force votes on governance issues."[1]
I've been pretty heavily invested in the space sector (Rocket Lab gains will basically pay for my retirement)* , and there was a time where I would be itching to grab a piece of SpaceX. However, since then (2020), we've gotten a really good look at how Musk runs companies, and you'd be daft to purchase shares before all the insiders cash out (SPCX has an unusually short lockup period[2]) and institutions are already declaring the company massively overvalued at these IPO prices[3].
I'm a fan of the space sector, but please find a company with a realistic and sane management team and a competitive moat bigger than Starlink [4, 5, 6]. If there's anything Musk excels at, it's squandering a good first mover advantage.[7]
*(Disclosure: I hold shares in RKLB, ASTS, BSKY, PL, and LUNR.)
Fortunately the S&P and Dow Industrial decided to not change their rules to allow SpaceX on their indices, which will save a lot of people from unwillingly taking part in the IPO.
My understanding of the Google deal is that it starts October 2026, and can be cancelled by either party with 90 days notice starting Dec 31 2026. Sounds kinda sus to me.
If you think that Tesla was too strong on investor protections and would like to have your say as a co-owner of the company diluted into irrelevance, SpaceX is the (meme) stock for you:
"SpaceX has adopted corporate governance policies that will erode typical shareholder protections in unprecedented ways, giving founder Elon Musk virtually unchecked executive authority when the rocket maker goes public later this year."
"Excerpts of SpaceX's IPO registration statement reviewed by Reuters show the company is combining supervoting shares, mandatory arbitration, stricter rules on shareholder proposals and Texas corporate law to give Musk and other insiders broad control. At the same time, it sharply limits investors' ability to challenge management, sue in court and force votes on governance issues."[1]
I've been pretty heavily invested in the space sector (Rocket Lab gains will basically pay for my retirement)* , and there was a time where I would be itching to grab a piece of SpaceX. However, since then (2020), we've gotten a really good look at how Musk runs companies, and you'd be daft to purchase shares before all the insiders cash out (SPCX has an unusually short lockup period[2]) and institutions are already declaring the company massively overvalued at these IPO prices[3].
I'm a fan of the space sector, but please find a company with a realistic and sane management team and a competitive moat bigger than Starlink [4, 5, 6]. If there's anything Musk excels at, it's squandering a good first mover advantage.[7]
*(Disclosure: I hold shares in RKLB, ASTS, BSKY, PL, and LUNR.)
[1] https://www.reuters.com/sustainability/boards-policy-regulation/spacex-ipo-gives-musk-sweeping-power-curbs-shareholder-rights-2026-05-06/
[2] https://www.fool.com/investing/2026/06/08/spacex-ipo-leave-retail-investors-holding-the-bag/
[3] https://www.morningstar.com/stocks/why-we-think-spacex-ipo-is-overvalued
[4] https://en.wikipedia.org/wiki/Amazon_Leo
[5] https://spacenews.com/fcc-clears-ast-spacemobile-constellation-as-launch-setback-clouds-ramp-up/
[6] https://spacenews.com/qianfan-constellation-deployment-hits-200-satellites-with-long-march-8-and-6a-launches/
[7] https://www.bbc.com/news/articles/cj9rjwpvmpzo
Also I made a lot of money on TSLA…by getting out when it hit max valuation.
They display the corruption right in the open.
Fortunately the S&P and Dow Industrial decided to not change their rules to allow SpaceX on their indices, which will save a lot of people from unwillingly taking part in the IPO.
My understanding of the Google deal is that it starts October 2026, and can be cancelled by either party with 90 days notice starting Dec 31 2026. Sounds kinda sus to me.