Uday Kotak questions SpaceX valuation, says only time will tell if we're in ‘mega bubble'

SpaceX made its stock market debut at $150 on the ticker SPCX, an 11% premium to its $135 IPO price, raising $75 billion in the largest IPO ever and reaching a market value of about $2.1 trillion. Kotak Mahindra Bank founder Uday Kotak questioned whether the valuation defies conventional frameworks, asking whether markets are in a 'mega bubble,' while also praising Elon Musk and the US. The rally pushed Musk's net worth to $1.11 trillion, making him the world's first trillionaire.