SpaceX IPO Buzz Boosts European Satellite Stocks

News of SpaceX planning to go public has provided the entire commercial space sector with a new valuation anchor. Against the backdrop of limited publicly tradable space-related companies, funds have quickly turned to already listed European satellite companies with comparable businesses.

On Thursday, the French satellite operator Eutelsat rose more than 20% at one point during trading, with the stock price hitting a one-year high; the German satellite developer OHB gained almost 12%, touching a historical high; Luxembourg satellite group SES also rose by 2.65%, setting a four-year high.

Eutelsat is the most direct representation in this round of trading. Kathleen Brooks, Head of Research at XTB, pointed out that Eutelsat is often seen as a competitor to SpaceX in Europe, but its current market capitalization is only €4.05 billion, far below the scale of SpaceX.

It should be noted that Eutelsat's stock price has doubled this year, and OHB's increase in the same period is close to four times, indicating that interest in European space stocks has been heating up for some time, and SpaceX's IPO has simply pushed this narrative to a more conspicuous position.

This wave of heat also extends to investment vehicles holding an indirect stake in SpaceX. The Scottish Mortgage Investment Trust holds about £2.98 billion in SpaceX equity, and its stock price rose by 1.4% on Thursday.";