SpaceX is seeking a high valuation, though it's not clear exactly why, Yahoo Finance reporter Pras Subramanian explains.
SEANA SMITH: All right, let's stick with space because Elon Musk's SpaceX reportedly eyeing a sky high valuation. We have Pras Subramanian here with the details. And Pras, we say sky high. To be exact, $125 billion, supposedly.
PRAS SUBRAMANIAN: Yeah, it seems like a good time for SpaceX insiders to cash out. They're looking to get around 70 bucks a share, which is a 25% bump from the last time they raised money, $125 billion. We're not sure why exactly they're doing this now. Is it Elon trying to raise more money for his Twitter bio?
Not sure, but SpaceX is a very successful company, one of the few private companies actually making-- worth more now in these-- in this day and age where the market's been sort of wavering. But, you know, SpaceX, they want to beat NASA to Mars. They've launched 19 rockets this year alone. So I could see why it's a kind of a good time maybe to do this tender offer to raise some money.
DAVE BRIGGS: OK, Pras Subramanian, appreciate you coming in, brother. Always good to see you.