00:00It's Benzinga, bringing Wall Street to Main Street
00:02Prominent short-seller Jim Chanos warned at an iConnections conference in New York
00:06that SpaceX's IPO is built on hopes and dreams, according to Reuters.
00:11Chanos said the company is not worth $1.75 trillion,
00:15based on any reasonable assumptions over the next five years.
00:18He called SpaceX a different animal from Tesla,
00:21noting SpaceX trades at 90 times sales versus Tesla's 14 times multiple.
00:25Chanos also called the data center sector a bad business,
00:28with low single-digit returns on capital,
00:31arguing that those firms resemble REITs rather than high-growth technology plays.
00:36Other short-sellers have taken a wait-and-watch stance on the company.
00:39For all things money, visit Benzinga.com.
Comments