Key Takeaways
- • George Noble, who ran Fidelity's Overseas Fund and later founded Teton Partners, told Bloomberg Surveillance that SpaceX is "the most egregiously overpriced company at scale in the history of capital markets."
- • SpaceX reported third-quarter revenue up 161% to $14.6 billion, according to the source summary.
- • SpaceX shares gave back 9% following the quarterly report, per the source summary, despite the revenue jump.
Summary
George Noble, who ran Fidelity's Overseas Fund and later founded Teton Partners, criticized SpaceX's valuation in an interview with Bloomberg Surveillance, calling the company "the most egregiously overpriced company at scale in the history of capital markets." His remarks came as SpaceX posted third-quarter revenue of $14.6 billion, up 161%.
The stock reportedly gave back 9% after the results were released, a move that highlights the gap between reported revenue growth and market pricing that Noble's comments target. The available material is limited to this publisher summary and a headline cross-posted by TIKR.com, so further detail on margins, valuation multiples, or guidance is not available in this report.
The stock reportedly gave back 9% after the results were released, a move that highlights the gap between reported revenue growth and market pricing that Noble's comments target. The available material is limited to this publisher summary and a headline cross-posted by TIKR.com, so further detail on margins, valuation multiples, or guidance is not available in this report.
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