The Artists Union is calling for a thorough investigation of the SpaceX IPO, stating that the valuation "defies financial logic."

BlockBeats News, May 7th. One of the largest public unions in the United States, the "American Federation of Teachers," has called for regulatory scrutiny of SpaceX's IPO, stating that its valuation "defies financial logic." The union has written to the U.S. Securities and Exchange Commission (SEC), expressing concerns about SpaceX's leadership practices and accounting methods.

SpaceX is seeking to raise $75 billion at a valuation of around $2 trillion, which would make it the largest IPO in history. However, experts point out a significant mismatch between its revenue and valuation, with more reliance on Musk's future vision. The union's president criticized this as a rush to market with a valuation that defies financial logic. The union is concerned that if SpaceX goes public, its members' retirement funds will be passively exposed to its operating risks.

Many of SpaceX's goals require years of investment, and some may not even be achievable. The union also calls on the SEC to review the "mandatory investment" issue resulting from index provider rule changes. (Golden Finance)