When Space Exploration Technologies (NASDAQ: SPCX) was preparing to go public, many experts worried that the company's targeted $1. 77 trillion valuation was too rich. Most of these experts, however, also believed that the company's Starlink division held great promise. For example, Jeremy Grantham -- a co-founder of GMO Asset Management and a well-known prognosticator of market bubbles -- warned investors against investing in SpaceX during its IPO .
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