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\n <\/div>\n250 pages SpaceX S-1 filing<\/a> The document is finally available to the public and is divided into three sections \u2013 Location, Connectivity, and AI. Understanding these different businesses and their synergies will help us answer an important question everyone is asking. Should I invest in SpaceX and at what valuation? Everything you need to answer that question can be found in today’s article.<\/p>\n While the term \u201cinitial public offering\u201d conjures up an image of large-scale wealth creation events, the reality is very different. Early trading day “price spikes” are not unusual but a bit distorted. This is because the difference between the IPO price before it is publicly traded changes immediately when a stock goes public. For example, Figma $fig<\/a> Its offering price was $33 per share but it opened at $85 per share. Everyone talked about that \u201c+158% first trading day gain\u201d as if everyone benefited from it. The reality is that only a small number of investors who held shares before the IPO realized this and sold it. Nine months later, the same shares were trading 75% lower.<\/p>\n Lesson One: Don’t Fall Victim to FOMO<\/strong><\/p>\n Most IPOs have a tremendous amount of volatility, which is why we’ve established a simple rule to avoid hype. We won’t consider buying shares of any IPO until they file a 10-K or 10-Q as a publicly traded company. This gives some time for the dust to settle. Still, we are in no rush to invest. Even in the medium term, IPO performance is not that good. A gentleman named Jay Ritter probably produces some of the most comprehensive <\/p>\n<\/p><\/div>\nA tough rule for IPO<\/h2>\n