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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."
No near term plans to IPO @
spacex. Only possible in very long term when Mars Colonial Transporter is flying regularly.— Elon Musk (@elonmusk)
June 6, 2013
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.
Mars requires developing complex technology over a decade+, but market cares about next 3 months. Result would be conflicting priorities.— Elon Musk (@elonmusk)
June 6, 2013
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