The fact that they could fulfill their whole loan that they wanted, and that they lost many important government satellite contracts recently seems to indicate

The fact that they could fulfill their whole loan that they wanted, and that they lost many important government satellite contracts recently seems to indicate that this is a business that hasn't reached a stage that it isn't out of the woods. According to certain investors, this is a business worth $30 billion. That's not a company that should be struggling with these things. United Launch Alliance had similar revenues (right around 2.5 billion) in 2018, but most only value them at $3 billion. This 10x multiple of their most obvious competitor doesn't seem to make sense.