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Short Sellers Warn SpaceX is Overvalued, Not Worth Its Price

On June 12, according to China News Service, SpaceX went public on the evening of June 12 Beijing time. The company attracted over $100 billion (approximately 676.3 billion yuan) in subscriptions from retail investors, surpassing its $75 billion financing target. According to a previous report by Reuters, analysts at Morningstar estimated SpaceX's valuation at $780 billion, which is less than half of its initial public offering target. Morningstar stock analyst Nicholas Owens stated, 'We believe SpaceX is severely overvalued, and investors will have the opportunity to buy in at a more attractive price after the IPO.' Michael Burry, who successfully predicted the U.S. housing bubble, also recently remarked, 'There is nothing in the S-1 filing (SpaceX's prospectus) that indicates it is worth $1 trillion, let alone $2 trillion.'

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