SpaceX (SPCX) is already seeing more demand than available shares for its planned $75 billion IPO, according to Bloomberg, which is putting Elon Musk’s space and AI company on track for the largest public listing ever. The company is reportedly offering about 555.6 million shares at $135 each, which could value SpaceX at roughly $1.8 trillion. If completed at that size, the deal would more than double Saudi Aramco’s record $29.4 billion IPO from 2019.
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The offering is still early in the marketing process, and the final details could change before the expected pricing date of June 11. Still, the fact that the deal is already oversubscribed after meetings with institutional investors suggests that there may be enough demand for SpaceX to raise the full amount it is targeting. The structure is unusual for a large U.S. IPO because Musk is using a fixed price before order-taking, rather than the more common approach of setting a price range and adjusting it based on demand.
Another factor that could support early demand is potential index buying. Nasdaq (NDAQ) recently changed its rules so that SpaceX could join the Nasdaq-100 after just 15 trading days, while FTSE Russell shortened its waiting period to five trading days. However, S&P Dow Jones Indices is keeping its existing rules for indexes like the S&P 500 (SPY), meaning that SpaceX would not get fast entry there.
What Is the Prediction for TSLA Stock?
When it comes to Elon Musk’s companies, most of them are privately held. As a result, until SpaceX goes public, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Moderate Buy consensus rating on TSLA stock based on 12 Buys, 14 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $404.54 per share implies 1.6% upside potential.
