SpaceX IPO hype hits the market — momentum play on the biggest debut ever
SpaceX just completed the largest initial public offering in history, raising $75 billion. The stock is set to begin trading publicly today, and early indications suggest the share price could surge right out of the gate.
Idea
Shadow-market trading implies SpaceX could open roughly 35% higher than its IPO price due to massive global demand. When heavily anticipated companies start trading, the initial burst of excitement often pushes the stock even higher over the first few days as regular investors rush to buy shares. The company is instantly entering the ranks of the largest public companies in the world, which forces large funds to buy it for their portfolios. This combination of extreme hype and forced institutional buying sets the stage for strong upward momentum.