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REVIEW PREVIEW NEWSLETTER Hard landing. Things were looking up for chip stocks on Monday. Then Tuesday came around, and that rally fizzled out. The tech-heavy Nasdaq Composite dropped 1.2% today. The Dow Jones Industrial Average fell 0.
The British Virgin Islands (BVI) have spent the last several years pitching itself as a digital-asset hub. At BVI Finance's Fintech on the Seas conference on Necker Island, one of the people buying that pitch is Kingsley Advani, founder of Advani Family Offices and CEO of fund-infrastructure ...
SpaceX's fast move into index funds could reshape how investors think about future AI IPOs.
SpaceX submitted an application to the FCC seeking permission to launch 100,000 generation 3 Starlink satellites on Monday.
SpaceX just joined the Nasdaq-100. Should you change your ETF exposure?
Bull case 🐂 JPMorgan analysts led by Doug Anmuth “SpaceX’s ambitions—and potential impact on humanity—are bigger than any company’s we’ve ever seen.” Bear case 🐻 MoffettNathanson analysts led by Julie Zhu “There is simply no credible financial model that can support what is at the time of this writing a roughly $2 trillion valuation.
As SpaceX (SPCX) joins the ranks of the Nasdaq 100 (^NDX) on Tuesday, Macquarie was among the Wall Street firms that initiated coverage on Elon Musk's space venture, coming out with an Outperform rating and a $250 price target on the stock. Macquarie US head of research on technology Paul Golding comes on Market Domination Overtime to talk about his latest note and the long-term opportunities he is seeing from certain parts of SpaceX.
SpaceXAI and Cursor plan to launch their first jointly developed AI model as soon as Wednesday, The Information reported, citing a memo sent to staff. Cursor declined to comment when contacted by Reuters, while SpaceXAI did not immediately respond to a request for comment. Elon Musk's SpaceX said in June it would buy Anysphere, the startup behind popular AI coding agent Cursor, in an all-stock deal worth $60 billion to boost its presence in the lucrative enterprise AI tools market.
With OpenAI and Anthropic waiting in the wings to go public, pre-IPO wealth planning is suddenly urgent.
SpaceX shares fell 6.8% to close at $149.47, below the $150 price where shares began trading June 12, the day of the rocket maker's initial public offering. Though the stock has dipped below that threshold in intraday trading four times, Tuesday was the first time it closed below $150.
It was a failure to launch for SpaceX shares on their first day in the Nasdaq-100. Amid a broad decline in tech stocks, the rocket maker’s shares dropped 6.8% to $149.47—above their IPO price of $135, but down from a peak above $200 and below the $150 price where shares began trading on June 12. Mutual and exchange-traded funds with roughly $800 billion in assets under management have been expected to buy SpaceX shares to mirror the Nasdaq-100’s performance, providing a guaranteed source of demand that some hoped might lift the stock.
Yahoo Finance Breaking Business News Reporter Jake Conley outlines the multiple bullish ratings SpaceX (SPCX) is receiving on Wall Street.
Impressive returns might be easier to achieve the old-fashioned way.
<body><p>STORY: SpaceX's swift addition to the Nasdaq-100 index on Tuesday is expected to unleash billions in passive buying, as brokerages kicked off coverage of the $2 trillion rocket and satellite company with largely bullish views.</p><p>However, shares of SpaceX fell 6.8%, reflecting a slide in high-momentum tech stocks.</p><p>"I'm not overly surprised to see the stock down," said Bennett. "SpaceX, I think, went public at 50 times sales. It's a very high multiple and, again, I think as as we see more and more companies kind of called into question about what their growth rates are, what their profitability are, I think we're going to see a fallout across the board with some of the other large, high growth companies." </p></body>
Elon Musk's SpaceX (Nasdaq: SPCX) has been sparking a lot of buzz on Wall Street since its Nasdaq debut on June 12. At first, the space technology and artificial intelligence company's disclosure of holding 18,712 Bitcoin (BTC) on its balance sheet surprised a lot of investors. As the ...
SpaceX (SPCX) didn’t enter the market quietly. Its blockbuster debut has instantly made it one of the most-watched companies on Wall Street, with investors chasing a rare public-market play on rockets, satellites, Starlink, and Elon Musk’s next frontier. The first major analyst calls are landing ...
Major brokerages initiated buy ratings as index inclusion could drive at least $5.4 billion in passive fund buying.
<body><p>STORY: The swift addition of SpaceX to the Nasdaq-100 index on Tuesday was expected to unleash billions of dollars in passive buying, as brokerages kick off coverage of the company with largely bullish views.</p><p>:: SpaceX</p><p>But shares of Elon Musk's rocket and AI giant slipped in morning trading, at one point dropping more than 6%, reflecting a slide in high-momentum tech stocks on concerns about the longevity of the AI boom.</p><p>The Nasdaq 100 was also trading lower.</p><p>SpaceX's debut in the tech-heavy index was set to create another source of demand for its shares as index funds and ETFs tied to the Nasdaq 100 will need to buy shares to match the benchmark's new composition.</p><p>Active managers who track the index closely may also adjust their positions.</p><p>J.P. Morgan estimated last month that SpaceX's addition to the index could draw $4.3 billion in passive inflows. </p><p>And more than a dozen brokerages, including SpaceX IPO underwriters Morgan Stanley, Goldman Sachs and J.P. Morgan started coverage of the company with top ratings, in Wall Street's first attempt to value it using conventional metrics rather than the investor faith in Musk's long-term vision.</p><p>Raymond James set a Wall Street-high price target of $800, arguing SpaceX could become one of the century's defining infrastructure platforms. SpaceX's IPO was priced at $135 per share.</p><p>However, not everyone was bullish.</p><p>:: SpaceX</p><p>MoffettNathanson, KeyBanc and Argus Research have the equivalent of "neutral" ratings, while CFRA is the only brokerage with a "sell" rating and a Wall Street-low price target of $115.</p><p>SpaceX, with its market cap of over $2 trillion, joined the Nasdaq 100 less than a month after its stock market debut, making it one of the fastest inclusions ever.</p><p>That was due to the index's revised rules for newly listed companies looking to enter widely tracked benchmarks.</p></body>
MoffettNathanson is Wall Street's lone skeptic on SpaceX despite a wave of bullish IPO calls.
Tesla Gets Higher Price Target as RBC Floats Potential SpaceX Merger
For the first time, investors outside the United States can use tokenized stocks as collateral to trade perpetual futures on U.S. equities, without a traditional brokerage account. Ondo Perps, a new decentralized perpetual futures platform built on technology developed by Ondo Finance, launched on ...
Don't expect SpaceX's stock price to skyrocket after being added to the Nasdaq-100.
While headlines focus on SpaceX's massive debt and losses, these four aerospace stocks offer a potentially more reliable way to profit from the industry's growth.
SpaceX Corp (NASDAQ:SPCX) just picked up a bullish new voice on Wall Street as Bank of America initiated coverage with a Buy rating and a $235 price objective. The bank’s analysts argue SpaceX has outgrown its roots as a rocket launcher to become the backbone of the entire space...
SpaceX (NASDAQ:SPCX) begins trading as a Nasdaq 100 constituent today, less than a month after going public, and Wall Street celebrated with coverage normally reserved for a moon landing. Jim Cramer flagged it on CNBC’s Squawk on the Street this morning, quoting Deutsche Bank calling the company “the apex of civilizational ambition, oftentimes expressed in ... Wall Street Just Called SpaceX the ‘Apex of Civilizational Ambition’ and Slapped an $800 Target on It
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