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The long-awaited SpaceX (NASDAQ: SPCX) has finally gone public, setting a record for the largest IPO in history. Overwhelming media coverage, social media frenzy, and the fear of missing out are spreading everywhere. But if you buy impulsively right now, you’re likely not investing — you’re chasing.
Louis Navellier, a seasoned investor with nearly five decades of market experience, offers a wise judgement: SpaceX is a great company, but this is by no means a good time to buy it. He lays out three reasons, each worth serious consideration by every retail investor.
Reason No. 1: Great Companies Often Make Terrible IPO Entry Points
Navellier states plainly: “A great company, bought at the wrong time and at the wrong price, can still be a high-risk investment.” He cites several textbook examples:
Facebook (now Meta): Went public in May 2012 at an IPO price of $38 amid market euphoria. Yet by August of that year, the stock had fallen to about $17.50 — a drop of more than 50%. Although it later gained over 1,300%, investors who chased the IPO were first taken to the woodshed.
Amazon: Eventually became one of the greatest stocks of all time, but first fell more than 90% from its dot-com peak.
Google (Alphabet): Also a huge winner, but early investors endured sharp pullbacks that tested their patience.
The conclusion is simple: No great stock moves in a straight line. Navellier’s personal rule: wait at least one year after an IPO before considering a purchase. One year allows insider lockup periods to expire (avoiding selling pressure from unlocked shares) and accumulates four quarters of financial data, turning investment decisions from “guesswork” into “calculation.”
Reason No. 2: Without Data, You Can’t Truly Evaluate
SpaceX’s business is complex: rocket launches, Starlink satellite internet, and long-term projects like xAI. Without public financial reports, investors have no way to know which business is driving growth, what profit margins and cash flow actually look like. No data means you’re blindfolded. A year from now, the picture of SpaceX as a public company will become much clearer. Buying now is betting on emotion, not value.
Reason No. 3: Buying SpaceX Means Buying the Volatility That Comes with Elon Musk
No one denies Musk’s brilliance. He reshaped the auto industry, reignited America’s space ambitions, and built the world’s largest satellite internet network. But investing in a Musk-led company means accepting the extra volatility that comes with Musk himself.
Tesla’s history has repeatedly proven: a single Musk tweet, public comment, or political controversy can move billions of dollars in market value in an instant. These fluctuations have nothing to do with the company’s fundamentals, yet they directly affect the stock price. Can ordinary investors stomach this emotional roller coaster? Most retail investors likely cannot.
What Should You Do Instead?
Navellier’s advice: don’t chase, be patient. Wait at least one year. Wait for insider lockups to expire. Wait for real financial reports to emerge. Wait for the market’s irrational exuberance to fade. Only then, using a systematic rating, decide whether to step in — that is far wiser than rushing in with FOMO. Great companies will eventually offer great entry opportunities. But obviously, that day is not today.
