SpaceX valued at just $780 billion by Morningstar, less than half its IPO target

SpaceX just got slapped with a bearish valuation ahead of its monster IPO coming up later this month. The report signals that one of the most anticipated offerings in years may be significantly overpriced, just as CEO Elon Musk tries to justify the valuation. This again shows (long-term) investors really SHOULD NOT buy this stock in the first 6 months. Don't forget private venture funds in those first 6 months will be able to DUMP their stock in multiple phases which could create a slow (or fast) salami-crash. What most may not know is that alot of those venture capital funds who have been invested 10+ years in SpaceX have contractual obligations to return money to their clients which leads to forced liquidation. We all know how it's gonna play-out.. first it will probably pump because around 2 weeks after IPO it will be adopted into indexes like QQQ who will have to buy it.. and than the big shorts will come in crashing it based on it's overvaluation. This could get brutal. I wouldn't be surprised to see SpaceX stock crash 30-50% after the initial pump.