The company is set to begin trading under the ticker symbol SPCX at a valuation of $1.77 trillion
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Hedge funds sold out of the biggest U.S. tech stocks, and some even added bearish positions, according to data from a JPMorgan note late Thursday, just before SpaceX was set to go public on Friday. Shares in the "Magnificent Seven" -- a group that includes some of the biggest tech names on Wall Street, namely Nvidia, Apple, Amazon.com, Alphabet, Meta, Tesla, and Microsoft, have all declined since last Friday. The Roundhill Magnificent Seven ETF, which tracks these stocks closely, declined over 2.4% since June 5, with some analysts saying investors were clearing their decks in order to prepare for the debut of Elon Musk's Space X on Friday.
SpaceX (NASDAQ:SPCX) is preparing to begin trading on Nasdaq on Friday after completing the largest initial public offering ever, with investors committing $75 billion in a vote of confidence that Elon Musk’s long-term ambitions in space exploration, communications and artificial intelligence can support a valuation of $1. 77 trillion.
In recent years, Elon Musk has been picky about whom he allowed to buy in to SpaceX, the rocket ship company making its highly anticipated stock market debut this week. One investor said that when SpaceX was privately held, he used a connection with a cousin of the billionaire entrepreneur to buy $10 million worth of stock in the satellite maker in 2018. A portfolio manager at a $500 billion U.S. fund said he had to use his relationship with a board member of the Musk-led Tesla for an allocation of SpaceX shares in 2023.
Just what retail investors needed... a leveraged SpaceX ETF debuting the same day as Wall Street's largest-ever IPO.
Investing.com -- SpaceX begins trading on Nasdaq today under the ticker SPCX, targeting a valuation of approximately $1.75 trillion and seeking to raise $75 billion, more than 2.5 times the previous record set by Saudi Aramco (TADAWUL:2222) in 2019. The scale alone rewrites the record books. But the more interesting argument for "unique" runs deeper than the headline number.
The float could make Tesla and X owner Elon Musk the world’s first paper trillionaire.
SpaceX is set to begin trading on Nasdaq on Friday after investors poured $75 billion into the world's biggest IPO ever, betting that Elon Musk's lofty space, communications and AI ambitions can justify a $1.77 trillion valuation. The landmark listing cemented Musk's status as the first trillionaire ever and propelled SpaceX into the ranks of the world's most valuable companies - even though the firm posted a loss of nearly $5 billion last year and generated only a fraction of the revenue brought in by similarly valued tech giants. The stock's performance will be a test for the so-called "Musk premium," which has been the force behind Tesla's $1 trillion-plus valuation.
The offering would value the reusable rocket company at $1.77tn.
(Bloomberg) -- Shadow markets are pricing a blockbuster SpaceX stock debut, indicating a pop of at least 35% for Elon Musk’s rocket, satellite and AI company.Most Read from BloombergSpaceX IPO Raises $75 Billion in Biggest Debut of All TimeXbox Plans Significant Layoffs as New CEO Plans OverhaulTrump Insists Iran Deal Is Close After Scrapping New StrikesTrump Vows New Attacks on Iran, Threatens Key Energy TargetsUAE and Iran Meet Face-to-Face to Try to Deescalate TensionsDerivatives offered by o
Investment bank Oppenheimer Holdings Inc. (NYSE:OPY) has launched the first coverage of commercial space flight company SpaceX on Wall Street, predicting a near 41% upside for the Elon Musk-led company ahead of Friday’s IPO. Oppenheimer Sets $190 Price Target In a new investor note released on Thursday, the investment bank set a price target of $190 for SPCX, a nearly 41% upside compared to the IPO offer price of $135/share. Read Also: SpaceX IPO Valuation Is Worth More Than Boeing, RTX, GE Aero
SpaceX has locked in its IPO at $135 per share, raising $75 billion from the sale of 555.56 million shares and valuing the company at $1.77 trillion.
Oppenheimer analysts argued that keeping the two companies separate would better support Elon Musk’s long-term artificial intelligence ambitions.
Tracey looks at the big IPOs from Facebook, Tesla, and Alibaba. How'd investors do?
By Manya Saini and Niket Nishant June 11 (Reuters) - Few business leaders have been as deeply embedded in popular culture as Elon Musk, the ambitious entrepreneur who has become a central figure in
Throughout the years, the SpaceX CEO and co-founder has shown a preference for secretive suburban compounds—most recently in Texas.
There is rarely a dull day for investors in Elon Musk's companies. Now that the SpaceX IPO is done (secondary market trading will start Friday), thoughts can turn back to the long-term plans Musk might have for his business empire. A merger with Tesla is on the table.
Elon Musk is poised to become the world's first trillionaire. His company, SpaceX, is set to begin trading on the Nasdaq Friday. It sold around $75 billion of shares Thursday in an offering that valued Musk’s stake at around $690 billion.
Investing.com -- Elon Musk’s SpaceX on Thursday said that it has priced its initial public offering at $135 per share on Thursday, raising $75 billion in the largest IPO in U.S. history.
SpaceX on Thursday raised $75 billion in its IPO, valuing Elon Musk's company at around $1.77 trillion.
Tesla had a 2025 to forget all around, as the company reported its first-ever decline in revenue, along with its second consecutive year of falling sales. One of the EV maker's biggest issues was in Europe, where the company experienced major declines in the world's second-most-mature EV market. ...
SpaceX's planned $75 billion IPO could shape investor appetite for OpenAI, Anthropic and late-stage tech offerings
Nobody ever complains about gas station anxiety. You pull in, you fill the tank, you grab a coffee if the line is short, and you are gone in five minutes. That small block of time is the invisible benchmark every electric vehicle has to meet before the average American driver will seriously ...
Tesla stock rose early Thursday after the order book for SpaceX’s massive IPO closed. Tesla stock was up 0.8% at $384.74 on Thursday, while the and were up 0.2% and 0.6%, respectively. Coming into Thursday trading, shares were down almost 10% over the past week, leaving investors wondering if Tesla investors were selling stock to fund purchases of SpaceX shares, which are expected to begin trading on Friday.
General Motors is considering using an unproven, but possibly more powerful, battery technology for its electric vehicles. The stock is up on Thursday.
Jim Chanos questions SpaceX's valuation as its New York IPO seeks to raise $75B on Friday.
According to a Reuters report, Chanos said that he believes SpaceX is not worth $1.75 trillion based on reasonable assumptions over the next five years.
The market is already treating tomorrow’s SpaceX IPO as one of the most important public offerings in decades. Investors are focused on valuation, demand, and whether the company can justify the excitement surrounding a business that spans launch services, Starlink internet, artificial intelligence, robotics, and advanced manufacturing. Yet the bigger story may be what happens ... Prediction: Elon Musk Will Target 2 Trillion-Dollar Acquisitions After the SpaceX IPO
Investing.com -- New Street Research has initiated coverage of SpaceX with a 12-month price target of $165, representing 22% upside from the proposed IPO price and corresponding to a $2.3 trillion equity value following the company's potential acquisition of Cursor.