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BossLady

06/17 01:14

SpaceX is trading like a $2T meme stock after its

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTXCommunity4thAnniversary SpaceX is trading like a $2T meme stock after its record IPOSpaceX’s first week as a public company is starting to look less like a conventional stock-market debut and more like a high-leverage crypto asset. Shares of Elon Musk-led company, trading under the ticker SPCX, extended their post-IPO rally Tuesday as investors piled into one of the smallest public floats ever attached to a company valued in the trillions of dollars. The stock rose as much as 13% to $210 in early market trading, according to Yahoo Finance data. This frenzy has also crossed into digital-asset markets, where SPCX-linked perpetual futures have become one of the busiest contracts across crypto trading platforms. Tiny float turns demand into momentum SpaceX’s post-IPO rally has been intensified by the unusually small amount of stock available for public trading. The company sold 555.6 million shares in its IPO, raising $75 billion. The sale later expanded to 638.9 million shares and about $85.7 billion in proceeds after underwriters exercised their overallotment option. Even after the additional shares, only a narrow slice of SpaceX’s equity entered the public market. This is because the company has about 13 billion shares outstanding, meaning the IPO released only a small portion of its total stock. Thus, Musk and other insiders still control most of the company, while lockup agreements limit how much additional supply can reach the market in the near term. Thierry Borgeat, co-founder of Arvy, said that structure created an exceptionally tight supply setup for a company of SpaceX’s scale, with index funds, retail traders, and momentum buyers all chasing a limited number of tradeable shares. Crypto analyst Colin Talks Crypto drew a similar comparison to digital-asset markets, arguing that SPCX is behaving like a token with a heavily restricted release schedule.
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