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The biggest IPO in history is about to happen—why did SpaceX cut its target valuation to $1.8 trillion?
On May 29, according to reports by foreign media, SpaceX has lowered its target valuation for its first public offering from $2 trillion to $1.8 trillion. This adjustment came after consultations with advisors and investors. The direct reason for the valuation cut is that the market feedback mechanism is doing its job. Before IPO pricing, the underwriting team collects the bid intent and price sensitivity of anchor investors. If demand falls short of expectations, issuers typically reduce the va
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