Space stocks surge in tandem ahead of SpaceX IPO, market cap 1 trillion7,800 billion dollars
SpaceX is moving ahead with its IPO after setting an offering price of 135 dollars per share and targeting 750 billion dollars in funding. The news sent space-related stocks broadly higher on Thursday, while Planet Labs rose 9.18%.
SpaceX set an offering price of 135 dollars per share. The company aims to raise 750 billion dollars through the offering. The company is preparing to list on Nasdaq. The offering is unusual in terms of its size.
The expected market capitalization after the offering is valued at 1 trillion7,800 billion dollars. This represents the largest corporate offering ever. The market is watching supply and demand and pricing through the eve of the listing.
Space-sector stocks rose broadly in Thursday trading. Momentus gained 28%, while Virgin Galactic rose 22.6%. Rocket Lab and AST SpaceMobile also advanced in tandem.
Planet Labs’ shares rose on Thursday 9.18%. However, the technical indicators show that the MACD is below the signal line, suggesting that momentum has slowed. The chart still shows a short-term downtrend.
Investors appear to have shifted funds into space-related stocks without direct exposure to SpaceX. Related stocks such as Intuitive Machines, Rocket Lab, and AST SpaceMobile saw increased trading value and volatility. Differences in fund flows between stocks within the sector have widened.
The prices and trading flows of these stocks are likely to change again over the period spanning the day before listing and the listing day. Investors are watching trading volume and fund flows after the offering price is finalized. The shares available for trading after listing and whether institutions sell are also being monitored.
Sources: Benzinga
Bullstory synthesized this report from the linked sources. AI may have assisted the writing process. Check the original reports for factual confirmation.