Legendary Investor Grantham Slams SpaceX IPO as 'Craziest' in History; Stock Down 7% to $150

According to Fortune, legendary investor Jeremy Grantham, GMO co-founder and chief investment strategist, called SpaceX's recent Nasdaq-100 listing the "craziest IPO in human history." Grantham warned that in 50 years, investors may laugh at the prospectus and regard current enthusiasm for the company as extreme optimism. SpaceX's stock has declined approximately 7% from its one-month high, currently hovering around $150, slightly above its $135 IPO target price.

Wall Street institutions remain divided on valuation: Morgan Stanley reportedly set a $300 price target, while Goldman Sachs analysts project $205. Grantham also flagged governance risks, noting that Elon Musk controls 82% voting power, creating both innovation advantages and leadership transition risks.