Bank analyst Ipek Ozkardeskaya said SpaceX’s post-IPO surge signals the tech
rally may be entering bubble territory. SpaceX closed Tuesday as the world’s
fifth-largest company by market value after its $135 IPO price climbed about
50%. Ozkardeskaya noted SpaceX gave no profit guidance for the year and its
space-infrastructure plans remain uncertain, and said the stock could be the
clearest warning that current tech valuations are becoming unreasonable.