SpaceX, Elon Musk's company, is poised for a "rocket launch" on Wall Street IPO — but someone has thrown a wrench in the plan
Elon Musk’s SpaceX completed what is now the largest IPO in history on Friday. Both institutional and retail investors are showing tremendous enthusiasm for the company, signaling that this public offering is likely to be a major success. Yet, a U.S. senator has called for a halt to the IPO...
On Friday morning, December 12th, a ceremony will take place at Times Square, the headquarters of Nasdaq. As the electronic trading platform for SpaceX’s IPO, Nasdaq has not yet disclosed which company executives will attend.
According to the professional account Elon Musk's Jet Tracking on the Bluesky platform, SpaceX CEO Elon Musk arrived in New York on Tuesday.
SpaceX confirmed on Thursday that the IPO aims to raise $75 billion — three times the previous record set by Saudi Aramco in 2019.
Headquartered in Starbase, Texas, SpaceX may issue additional shares based on market demand, potentially increasing total fundraising to as much as $86 billion.
SpaceX’s current valuation stands at $1.765 trillion, placing it among the top ten most valuable companies globally.
These figures are staggering. Jay Ritter, an IPO expert at the University of Florida, warned that after the official listing on Friday, “the stock price is likely to surge dramatically.”
The scholar added, “It appears that institutional investor demand is four times the amount of shares actually being offered.”
Stock trading won’t officially begin until mid-morning, giving partner banks time to distribute the shares they’ve taken on.
According to Reuters, citing four informed sources, asset management firms hoping to launch leveraged index funds (ETFs) tied to SpaceX on the first day of its public debut have been asked to delay their issuance until Monday.
As reported by AFP, Elon Musk is pitching investors not just on profitable ventures like the Falcon launch rockets or Starlink internet network, but also on future potential and untapped markets — such as space-based data centers.
No other company of similar scale talks about colonizing the Moon or Mars quite like SpaceX does.
Analysts at Wedbush Securities wrote: “We believe SpaceX’s IPO marks a pivotal moment for the entire tech industry, as the AI revolution enters a new phase.”
If SpaceX receives a positive reception on Wall Street this Friday, Elon Musk’s personal wealth could break through the symbolic $1 trillion threshold, setting an unprecedented record.
According to calculations by The Washington Post, his net worth has already surpassed this level. However, authoritative source Forbes.com shows his wealth has not yet reached that figure.
A Roadblock Appears
On Wednesday, Democratic Senator Elizabeth Warren urged the U.S. Securities and Exchange Commission (SEC) to pause the IPO so that regulators can conduct due diligence and ensure investors aren’t misled.
Nabil Ahmed from Oxfam commented: “Having $1 trillion in wealth concentrated in one person contradicts both fair economics and a healthy democracy.”
On Thursday, protesters erected a 10-meter-tall inflatable figure resembling the entrepreneur outside the front door of Nasdaq’s headquarters.
They condemned online users who used xAI’s AI interface “Grok” to generate images of naked women and children, then posted them on social media platform X.
At the beginning of this year, under public pressure, the platform promised to prevent such content generation. Yet, multiple observers note that these operations remain feasible.
Still, whether skeptics or critics of Elon Musk’s openly far-right political stance, none seem able to shake the billionaire’s victory declared this Friday.
Source: rfi
Original article: toutiao.com/article/1867815657072775/
Disclaimer: This article represents the views of the author alone