On Its Second Trading Day, SpaceX Jumps Nearly 20%, Valuation Reaches $2.5 Trillion
SpaceX's stock surged nearly 20% on its second day of trading, propelling its valuation to $2.5 trillion and ranking it among the world's top six public companies. The monumental IPO, with a very low initial float, has ignited intense market activity. The rally, fueled by strong retail demand and a favorable macro backdrop, has also made founder Elon Musk the world's first trillionaire.
Analysts highlight two key dates in July that could drive extreme volatility. On July 7th, the stock's inclusion in major indexes like the Nasdaq-100 will force massive passive fund buying, colliding with the historically low float as early shareholders remain locked up. Later in July, following the Q2 earnings call, an estimated 10-15% of shares held by early insiders (excluding Musk) will be unlocked, testing institutional demand.
Behind the scenes, market observers speculate about a potential stock-for-stock "merger of equals" between SpaceX and Tesla. This could help Musk manage a looming $7 billion tax bill from expiring Tesla options and consolidate his empire under SpaceX's robust governance structure, which features super-voting shares and mandatory arbitration. The IPO's underwriter selection is seen as potentially securing support for such a future merger vote.
marsbit06/16 03:08
