SpaceX heads for record $1.78tn float amid fears it is overvalued

Elon Musk’s SpaceX is set to launch the biggest stock market float in history amid warnings that it may be overvalued. The space exploration, satellite broadband and AI company will join the US stock market on Friday at a valuation of $1.78tn, after offering at least $75bn of shares to investors through an initial public offering. The offering is oversubscribed by three or four times, according to Reuters, with more than $250bn of bids from investors keen to take part in the IPO. …