SpaceX is going public, with its stock set to join the Nasdaq-100, but some investors are expressing caution due to concerns over the company's valuation and potential for a disappointing initial public offering. The IPO has generated significant interest among small investors, despite some analysts warning that the company's financials, including reported losses, may not justify its valuation. The outcome of the IPO and its impact on the stock market are uncertain, with some predicting a potentially negative outcome.