Jim Chanos Challenges Morgan Stanley's $300 SpaceX Target, Cites $84B Annual Financing Need Through 2035

SPCX2.55%
According to Jim Chanos, founder of short-seller firm Kynikos Associates, Morgan Stanley's bullish SpaceX research report masks significant financial risks earlier this week. While Morgan Stanley assigned SpaceX an "overweight" rating with a $300 per-share target price, the report's risk section explicitly warns that SpaceX will not achieve positive free cash flow before 2035, requiring approximately $84 billion in external financing annually from 2027 to 2034—totaling nearly $672 billion over eight years. Chanos highlighted the contradiction between the bullish target price and the financing requirements disclosed in the same report.
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