According to BlockBeats, on May 7, the American Federation of Teachers, one of the largest U.S. public unions, called on the SEC to scrutinize SpaceX’s initial public offering, citing valuation that defies financial logic.
SpaceX is seeking to raise $75 billion at a $2 trillion valuation, which would make it the largest IPO in history. The union expressed concerns over SpaceX’s leadership practices and accounting methods, noting that the company’s revenue severely mismatches its valuation and relies heavily on Elon Musk’s future vision rather than current financials.
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