$SPCE who? SpaceX just IPO'd at $135, opened at $155, and Jim Chanos is already calling it Enron in a rocket suit

Let's talk about the audacity. $SPCE... wait, wrong rocket company. SpaceX — the actual one that lands boosters — priced its IPO at $135, opened at $150-$155, and immediately stomped past Tesla, Saudi Aramco, and Meta to a ~$2 trillion market cap. That's an instant ~11% gain for IPO allocees, which, congratulations, none of us got.

Enter Jim Chanos of Chanos & Company, who showed up to the party specifically to unplug the speakers. On Bloomberg's The Money Show, he called the valuation 'hopes and dreams,' flagged the company trading at roughly 110 times revenues, and invoked the ghost of Enron — which is a very specific haunting to choose. Crypto Twitter is currently debating whether a $2T rocket company trading on vibes is more or less rational than a dog-themed coin hitting $0.30.

$BTC and $ETH holders watching a tradfi IPO get called speculative garbage in real time are experiencing something close to vindication — or at least schadenfreude with better branding.