Space X IPO

Senator wants Space X IPO postponed

Democratic Senator Elizabeth Warren wants SpaceX IPO postponed, writes CNBC.

In a letter to the US Securities and Exchange Commission, Warren expresses concern about the company's governance and valuation, which she believes is misleading.

She also warns that a rapid inclusion of SpaceX in the major stock market indices could pose major risks for private investors who have not chosen to invest in the space company themselves.

SpaceX begins trading on the New York Stock Exchange tomorrow, Friday, and is expected to be one of the largest stock market listings ever.

Brokerage firm buys Space X: "Has what it takes"

The US brokerage firm Oppenheimer is the first among global research houses to begin monitoring Elon Musk's space company Space X ahead of Friday's stock market debut, Reuters reports.

Advice: Buy with a target price of $190, representing an upside of 41 percent compared to the initial public offering price of $135.

“We see the company as the only vertically integrated AI company with the capital, data, language models, hardware, manufacturing capacity and engineering expertise required,” Oppenheimer analyst Timothy Horan wrote in an analysis on Thursday.

But not all analysts are as positive. Earlier in June, Morningstar valued SpaceX at $780 billion, less than half of the valuation of about $1.75 trillion that the company is said to be aiming for in the IPO.
 

Space X IPO trip
Sources: Small savers want to buy Space X for 1 trillion

The space and AI company Space X’s record-breaking IPO is getting closer – and small savers are flocking to the listing, writes Bloomberg.

According to sources to the news agency, private investors have expressed interest in buying shares worth a total of over $100 billion, equivalent to around SEK 1,000 billion.

There is also great interest from institutional sources, with around 1,000 professional investors reportedly applying for allocation. Among them are several of the Middle East's largest sovereign wealth funds, including Saudi Arabia's Public Investment Fund (PIF), the Kuwait Investment Authority and the Qatar Investment Authority.

The WSJ instead states that the total buying pressure from small investors amounts to around SEK 660 billion. At the same time, fund giant Blackrock is said to have placed a purchase order worth around SEK 50 billion.