Shahin’s office is in Torrance, California, which borders Hawthorne, the home of SpaceX’s original HQ, and many SpaceX employees are clients, giving him a front-row seat to the firm’s growth.
He said that many of his clients, who either owned the stock as employees or bought the stock through an SPV his firm set up in 2023, are sold on the “long-term vision and execution strate” and expect to hold it for the long term. That would be his recommendation for people who bought the stock on the Nasdaq Friday as well.
“Why else would you buy a stock at a 50 to 100x valuation multiple?” he said. Shahin believes in the vision, noting that the company is “rich” in future revenue opportunities in areas like mobile phone service, but it will be a bumpy ride.
“Most importantly, be ready for volatility, because now, when Blue Origin has a rocket that explodes, it is going to have some effect on this company,” Shahin said. One challenge of leaving the private markets is that reputational issues play out in your stock price.
“Hey, SpaceX, be careful what you wish for,” he said.
