Inspire Investing announced on June 12, 2026, that SpaceX will receive a negative Inspire Impact Score upon its initial public offering, disqualifying it from inclusion in any Inspire ETF. The determination follows an assessment by Inspire's research team under its biblically responsible investing (BRI) methodology, which found that SpaceX's ownership of X triggers violations in the Exploitation and Sexually Explicit screening categories. This exclusion means the world's largest Christian exchange-traded fund (ETF) provider will not hold SpaceX shares in any of its funds.

The National Center on Sexual Exploitation (NCOSE) identified X for failing to adequately address child sexual abuse material on its platform. According to the organization, X has declined to take action in certain cases and continues to facilitate the spread of child sexual abuse content, image-based sexual abuse, AI-generated deepfake pornography, prostitution, and sex trafficking. Although X operates as a separate company, its profits and business activities are connected to SpaceX through shared ownership.

Ownership and Responsibility

Inspire Investing's methodology treats a parent company's ownership of a subsidiary that facilitates documented exploitation as a disqualifying factor. The firm states that ownership carries responsibility and involves the intermingling of profits. Robert Netzly, CEO of Inspire Investing, emphasized that while SpaceX is impressive by financial measures, the company does not meet the standard for investors seeking to own shares with a clear conscience.

"SpaceX owns X (formerly Twitter). X has been documented facilitating some of the worst exploitation of human dignity available on the internet," said Netzly. "Our job at Inspire is to find good companies our investors can own with a clear conscience before God. SpaceX does not meet that standard."

Screening Methodology

The Inspire Impact Score is a proprietary scoring system developed to evaluate publicly traded securities for biblical alignment across more than 26 categories. A negative score in any disqualifying category results in exclusion from Inspire ETFs. The score is calculated using sourced third-party research, including findings from organizations such as NCOSE, and is updated quarterly with provisions for off-cycle updates for high-profile events.

Inspire clarified that the decision to exclude SpaceX is a values-based determination rather than a financial assessment. The firm maintains that its ETFs are designed to demonstrate that faith-based investing and competitive long-term performance are not mutually exclusive. SpaceX's score will be available on the free screening tool Inspire Insight beginning with its IPO listing.

As investors evaluate Space Exploration Technologies Corp’s (SpaceX) blockbuster IPO, Nancy Tengler, CEO and CIO of Laffer Tengler Investments, suggests the focus should shift from traditional valuation metrics to the strategic vision of Elon Musk. She argues that SpaceX represents a bet on Musk’s proven ability to turn seemingly impossible concepts into reality, rather than a company judged by near-term earnings projections. The bullish case relies heavily on Musk’s long-term ambitions, such as fully reusable Starship rockets and the potential construction of data centers in space.

Meta IPO Comparison

Tengler acknowledges that many investors draw comparisons to Meta Platforms, Inc.’s 2012 IPO, which was considered a flop as the stock fell sharply after its debut and finished the year well below its offering price. While she understands concerns that SpaceX may be entering the market at a lofty valuation, Tengler argues that traditional metrics may not be the right lens through which to evaluate the company.

Amazon Investment Thesis

“This is not a name you’re buying based on fundamentals,” Tengler said. “For me, the analogy is Amazon.” She draws a parallel to Amazon.com, Inc., which prioritized growth and long-term opportunities over immediate profits before generating substantial returns. The comparison hinges on what investors believe SpaceX can become over the next decade rather than what it looks like today. Tengler points to Amazon’s extraordinary long-term performance as an example of how transformative companies can reward investors willing to look past short-term valuation concerns.

Long-Term Time Horizon

Tengler’s firm recently launched a thematic portfolio focused on technologies it believes could reshape the global economy over the next 10 to 20 years, including space, robotics, quantum computing, and nuclear energy. SpaceX fits squarely within that framework. Her conviction extends beyond the stock’s opening weeks. “If the IPO comes out at $135 and the stock drops to $100, that’s not ideal, but it wouldn’t change our long-term view,” she said. “We want to participate.” However, she acknowledged that valuation is not irrelevant, noting that an opening price of $250 would give the firm pause.

Musk’s Track Record

Tengler references Walter Isaacson’s biography of Musk, noting that he describes himself as “programmed for war.” This reputation is built on surviving near-disasters. Tesla, Inc. faced the threat of bankruptcy, while SpaceX endured significant cash burn and multiple failed launches before establishing dominance in commercial spaceflight. “He frequently teeters on the edge of disaster and then pulls back just in time,” Tengler said. Beyond rockets, investors view SpaceX as a platform company with exposure to satellite communications, launch services, AI infrastructure, and global connectivity via Starlink.