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Space Exploration Technologies Corp., known as SpaceX, has completed the largest initial public offering in history. The S&P 500 is up 9.8% year to date, but the Consumer Price Index rose 4.2% in May, the highest level in three years, partly due to the Iran war. The cyclically adjusted price-to-earnings ratio is near 41, close to its record high of 44 in 2000, which preceded a market crash. While major AI companies like Nvidia and Palantir are profitable, many smaller firms are not, and SpaceX itself posted a $4.9 billion loss last year with a price-to-sales ratio above 100.
Amazon.com Inc
Alphabet Inc Class C
Microsoft Corporation
NVIDIA Corporation
Space Exploration Technologies Corp. Class A Common StockSpaceX posted a $4.9 billion loss last year with a price-to-sales ratio above 100, indicating poor financial health and overvaluation.
Palantir Technologies Inc.