India, June 10 -- Senator Elizabeth Warren has reached out to the U.S. Securities and Exchange Commission (SEC), urging them to hold off on SpaceX's upcoming initial public offering (IPO).
She raised concerns about the company's valuation, corporate governance, and the protections available for investors. In a lengthy 12-page letter to the SEC, Warren pointed out that the planned IPO poses significant risks to market integrity and retail investors because of its scale and distinctive structure.
The Massachusetts Democrat expressed skepticism about SpaceX's valuation, especially after its purchase of xAI, and warned about possible conflicts of interest due to CEO Elon Musk's controlling stake in the company.
Additionally, she highlighted ...