Record SpaceX IPO 'Calculus Based on Faith' Not Valuation, Says Colas

Nick Colas, co-founder of Data Take Research, said that while he believes the math doesn't add up for SpaceX's valuation compared to the level of investment into space tech company, investors are making the decision based on Elon Musk's track record of success. Colas said that the bet is that Musk can replicate his track record of bringing the public interesting technology, but that it's not based on any math people can 'rationally model.' (Source: Bloomberg)