SpaceX listing expectations intensify, as investors rush to position

According to reports from the Financial Times, as the anticipation for SpaceX's IPO heats up, investors are scrambling to get in on the company's equity ahead of time, with the market sentiment being described as "speculative frenzy."

SpaceX currently remains a privately held company, and ordinary investors cannot directly purchase it through public markets. This scarcity has further fueled the market's enthusiasm for its pre-IPO equity, with some investors opting to indirectly position through secondary private markets or related funds.

The timing of this surge of enthusiasm is particularly delicate. Negotiations for the extension of the ceasefire between the US and Iran are progressing, and there is a marginal easing of geopolitical tensions, with risk preferences picking up, which has provided some emotional support for tech and space-related stocks to a certain extent.

For investors, the core issue lies in the fact that SpaceX's actual IPO schedule remains unclear. Musk has previously been vague about IPO plans, and the constant changes in market expectations themselves constitute a risk. Before the official prospectus is disclosed, any valuation discussions are based on limited information.