Why Westend Capital’s Opted Out of the Space Exploration Technologies Corp. (SPCX) IPO
WestEnd Capital Management, an investment advisor, disclosed in its Q2 2026 investor letter that it opted not to participate in Space Exploration Technologies Corp. (SPCX) IPO. Despite acknowledging the company's remarkable business achievements, such as Starlink's global leadership in satellite internet connectivity and advancements in launch operations, artificial intelligence, and digital infrastructure, WestEnd Capital Management decided against owning SPCX.
The firm attributed this decision to their valuation assessment and expectations of future returns, rather than the company's performance.
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