Jun 20, 2026
On June 12, SpaceX (NASDAQ: SPCX) had the biggest IPO on record, making $75 billion — but shares are already dropping. Entrepreneur and NYU professor Scott Galloway isn’t impressed.
“Getting the Nasdaq to waive requirements applied to every company until now, so he can force index funds to purchase shares, aims a demand cannon of $75B at a business with a small float. The result is a price that in no way reflects the underlying value,” wrote Galloway in a June 17 Medium post. “But I digress. This isn’t an investment, but a trade. So … where to ‘invest’?”
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Galloway says you should forget SpaceX stock and invest in GLP-1s instead.
“Five years ago, when Ozempic and Wegovy were first approved for weight loss, GLP-1s looked like a silver bullet for obesity,” Galloway wrote. “Today, they’re a fully loaded magazine of silver bullets aimed at obesity, addiction, cancer, sleep apnea, and a growing list of other diseases and chronic conditions.”
Here’s what Galloway had to say about which GLP-1 producers make for a good investment — and what needs to change for GLP-1s to be even more successful.
Eli Lilly is performing especially well in the GLP-1 market
Galloway says that the pharmaceutical company Eli Lilly is doing especially well thanks to the weight loss drug.
He says that Eli Lilly’s shares have seen a 418% price increase since 2021, when GLP-1s were approved for weight loss. According to Eli Lilly’s historic price lookup page, its stock price was $276.22 at the end of 2021. By the end of 2025, its stock was worth $1,074.68.
The company is currently working on a new GLP-1 drug, a combination drug with promising phase 3 results. If successful, this medication could help Eli Lilly’s stock climb even higher.
In comparison, fellow GLP-1 creator Novo Nordisk hasn’t seen the same level of success. Galloway says that might be because Eli Lilly has had a better time marketing directly to consumers.
“In the GLP-1 category, we observe prices are elastic. The more we lower the price, the more users we get,” says Eli Lilly Chair and CEO David Ricks. “That’s the path we’re on.”
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Galloway also says that GLP-1s almost work like a subscription, because people who get on them tend to stay on them.
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The hardest sell for GLP-1s is the price
The main reason people stop taking GLP-1s is the price, according to the Cleveland Clinic.
GLP-1s are expensive, costing hundreds of dollars per month or more. And increasingly, insurance isn’t agreeing to pay for it. Lowering drug prices provides real support for people who were previously accessing the drug through their insurance before losing coverage.
Eli Lilly has partnered with the U.S. government to allow seniors on Medicaid D to pay only $50 per month for the drug. It’s also offered self-pay options for patients who are uninsured, or whose insurance won’t cover it — but its prices are still expensive, requiring people to pay up to $449 per multi-dose pen.
“The GLP-1 story offers something Silicon Valley used to produce in abundance: a hopeful vision of the future,” says Galloway. “The question isn’t whether GLP-1s will change the U.S. They already have. The question is whether we’ll be stupid enough to ration the change.”
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Kit Pulliam is a DC-based financial journalist with over five years of experience writing, editing, and fact-checking financial content.
