Mark Yusko of Morgan Creek Capital compared SpaceX's $2 trillion valuation to Dogecoin, calling it 'beyond silly' relative to earnings power and warning that the upcoming lockup expiry could trigger a much deeper selloff. In an interview with Cointelegraph, Yusko said SpaceX would need to capture about half of projected U.S. GDP in 10 years to justify a 10x return, calling that a 'mathematical impossibility.' He likened the IPO to Elon Musk's strategy with Tesla, alleging that only 4% of shares were floated while Musk and venture capital backers prepare to cash out into retail retirement accounts. SpaceX shares have fallen more than 12% in the past five days and nearly 28% over the past month, though 22 of 28 analysts still rate the stock a buy.
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