Sen. Elizabeth Warren urges SEC to delay SpaceX IPO
Business
Sen. Elizabeth Warren is urging the SEC to delay SpaceX's big IPO, saying there are serious questions about how the company is valued and run.
In a letter shared with CNBC, she called it the "biggest IPO in history" and warned that investors could get hurt if things aren't handled carefully.
Elon Musk, who owns most of SpaceX, is at the center of these concerns.
Warren flags Elon Musk's unchecked power
Warren flagged worries about Musk's "uniquely unchecked" power as majority shareholder and possible conflicts from SpaceX buying his xAI company.
She also questioned why SpaceX set a fixed price of $135 per share, something you don't usually see in traditional IPOs.
Her main point: The SEC should step in to protect investors and keep markets steady before moving forward.