Matt Kennedy

Matt Kennedy is a senior strategist at Renaissance Capital, an IPO-focused research and ETF firm, where he analyzes public-offering markets, valuations, and listing trends and is frequently quoted on major IPOs including SpaceX and technology listings.

SpaceX’s $75 Billion IPO Asks Investors to Underwrite 2030 Results

Renaissance Capital senior strategist Matt Kennedy told Bloomberg Deals that SpaceX’s planned $75bn IPO carries a “very steep” price, even if the company is not a dot-com-style story without substance. Kennedy argued that the valuation can only be justified by looking out to 2028, 2029 or 2030, making the deal a test of investors’ willingness to underwrite future results rather than near-term profits. He also described the listing’s size and structure as unprecedented and potentially important for whether the IPO market can reopen.

Bloomberg TechnologyJun 11, 20264 min read