Reddit Is More Excited About $SPCX Than the Analysts Who Actually Cover It

Reddit's investing communities are in full degenerate mode this week, and honestly, who can blame them? $SPCX — SpaceX's Nasdaq ticker — has become the single most-discussed IPO in WSB history since the filing dropped. The numbers are genuinely staggering: ~$18.7 billion in 2025 revenue, a targeted valuation north of $2 trillion, Goldman Sachs leading a 23-bank underwriting syndicate, and Elon Musk retaining super-voting shares because of course he does. High-upvote DD posts are flooding the subreddit, with retail bulls pointing to SpaceX's Starlink dominance and space-based data center ambitions alongside $NVDA GPU deployments in orbit as a generational catalyst.

But here's where it gets spicy: Fundstrat's analysis — getting heavy traction in r/investing — draws a direct line to Paul Tudor Jones flagging the 1999 market top via massive IPO volume plus lockup expirations. The math is uncomfortable: roughly $2 trillion in SpaceX stock unlocks ~90 days post-listing, right when OpenAI (targeting $1 trillion valuation) and Anthropic (eyeing October) are also lining up. Tom Lee remains bullish with an S&P target of 7,700, but even he's flagging mid-year turbulence. The Reddit hive mind is split: moon or blow-off top?

When 160 people in Austin alone are each set to pocket over $100 million from a single IPO, you're not watching a stock listing — you're watching wealth redistribution at a scale that makes GameStop look like a lemonade stand.