SpaceX received a "junk" ESG rating from MSCI: the company was compared to Russia
MSCI has assigned SpaceX a CCC rating on the ESG scale — the worst possible score a company can receive. This verdict was issued literally on the eve of the historic IPO, during which Elon Musk's space giant raised $75 billion and became the largest debutant in stock market history.
The CCC rating automatically places SpaceX on the same level as Russia, which MSCI downgraded to this same level after the events of 2022. In terms of governance metrics, the company scored only 3.2 out of 10, indicating extremely weak ESG risk control mechanisms and insufficient transparency. MSCI emphasizes that organizations with such a rating have either already been involved in serious scandals or are in a high-risk zone.
Assessment Details: From a Starting 10 Points to the Minimum Level
MSCI ESG Research evaluates companies across a range of parameters: environmental responsibility, social factors, and corporate governance quality. The scale ranges from AAA (leaders) to CCC (laggards). SpaceX started with a maximum of 10 points, but for each identified violation or shortcoming, points were progressively reduced. Ultimately, in terms of ESG scandals, the company received only 1 out of 10 points, leading to an "orange flag" — a warning for investors.
IPO and Sharp Correction: Market Reality
Despite a brilliant start — SPCX shares opened at $135, and market capitalization instantly reached $3 trillion — the euphoria did not last long. By Thursday, quotes had fallen 18% from the intraday high above $225, closing at $184.98. SpaceX's market capitalization shrank by approximately $620 billion, dropping to $2.37 trillion.
On crypto markets, skepticism only intensified. On the Hyperliquid platform, large investors and "whales" hold a net short position of $45 million against SpaceX's value growth. This indicates that professional players do not believe in the long-term sustainability of the company's shares at current levels.
Expert Opinion: SpaceX's low ESG rating is not just a formality. For institutional investors, especially from Europe, such assessments become a filter in decision-making. In a situation where the company has just gone public and is already losing hundreds of billions in market capitalization, a "junk" ESG status could become an additional trigger for profit-taking and increased bearish pressure.