This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SpaceX IPO: 'Possible in the Very Long Term'

NEW YORK ( TheStreet) -- Sorry, Elon Musk fans. You're going to have wait a while for SpaceX to go public.

Musk, who is CEO of SpaceX and Tesla Motors (TSLA - Get Report), said that the nature of the business is very divergent from Wall Street's mentality, and an initial public offering would do more harm than good at this point.

"No near-term plans to IPO @SpaceX," Musk said in a tweet. "Only possible in very long term when Mars Colonial Transporter is flying regularly."

The popular Musk, who was recently interviewed by TheStreet, noted the conflicting time frames between what Wall Street cares about (quarter-to-quarter data), versus what it would take to develop a trip to Mars.

Musk noted there is a lot a of pressure from investors as a public company, saying it's "hard not to feel super bad if u don't make sic your quarter ."

Rocket technology is vastly different than what most companies are used to, Musk stated. He noted that the " p assing grade for a rocket is 100%."

There has been speculation that SpaceX would go public based off the exceptional performance seen in shares of Tesla Motors, as well as Solar City (SCTY - Get Report), which Musk is also involved with.

Last year, SpaceX launched its Falcon 9 rocket, carrying the Dragon capsule into space.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SCTY $50.48 0.00%
TSLA $187.59 0.00%
AAPL $124.25 0.00%
FB $81.66 0.00%
GOOG $542.56 0.00%

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs