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The markets are starting the week in their trillion-dollar IPO era, now that SpaceX shares are trading.
Key facts
The average IPO in this decade was down 26% from its offering price after one year, according to data from JPMorgan
The markets are starting the week in their trillion-dollar IPO era, now that SpaceX shares are trading
Think of Elon Musk's company like a pebble, a big one, thrown into a giant lake of equity — there will be ripples through the public and private markets, and they'll be rippling
There's no question that investors are thirsty for SpaceX, particularly retail investors
Summary
Think of Elon Musk's company like a pebble, a big one, thrown into a giant lake of equity — there will be ripples through the public and private markets, and they'll be rippling for a while. "Any large IPO has a gravitational pull to them, so they can have sizable effects on the public markets, on private markets and sectors," Aaron Mulvihill, a strategist at JPMorgan Asset Management. In a typical IPO, a company will offer up about 10%-20% of its shares as its float, Mulvihill says. This was done in part because of the company's high valuation, an IPO of 20% of a $2 trillion company might have been market-disrupting.