JAKARTA - The plan for the initial public offering (IPO) of SpaceX has sparked a wave of tremendous enthusiasm on social media and the retail investor community. Even though Elon Musk's company has not even officially filed an IPO document, speculation has heated up - from valuation to the stock code (ticker) to be used.
This euphoria is clearly visible on various platforms, including investor forums and prediction markets such as Polymarket. There, users even place bets worth millions of dollars to guess various aspects of SpaceX's IPO, including the exchange where it is listed and its stock ticker. The total value of the bets has exceeded 15.2 million US dollars.
One of the most popular speculations is about the stock ticker. The letter "X" was a favorite with odds of up to 60% a month ago, but now it has dropped to around 25%. This is interesting because the ticker "X" was previously used by U.S. Steel before it was delisted after being acquired by a Japanese company.
Other alternatives such as "SPAX" to unique tickers such as "SEX" have also circulated among retail investors. However, the majority now believes that SpaceX will choose another, more conventional code.
On the other hand, the CEO of Tuttle Capital Management, Matthew Tuttle, even offered the ticker "SPCX" - which is currently used by his ETF - for sale to SpaceX. He admitted that he was still waiting for a call from Elon Musk.
Not only about the ticker, SpaceX's valuation is also a hot speculation. The company is said to target a valuation of up to US$1.75 trillion (around Rp29,000 trillion), which will immediately place it as one of the largest companies in the United States.
If achieved, the valuation would surpass tech giants such as Tesla and Meta Platforms, and potentially transform the landscape of the elite group of tech stocks known as the "Magnificent Seven".
Some analysts have even started speculating that the group could turn into a "Magnificent Eight" if SpaceX officially listed on the exchange. Todd Schoenberger of CrossCheck Management called SpaceX's entry a redefinition moment for the global stock market.
What makes this IPO even more interesting is Elon Musk's plan to give a large portion to retail investors. He is said to be considering allocating up to 30% of the IPO shares to individual investors - a figure well above the average IPO in general.
This move is considered a strategy to capitalize on SpaceX and Musk's popularity among small investors. On Reddit forums such as WallStreetBets, the name SpaceX continues to be a hot topic with hundreds of mentions in the past week.
According to Jonathan Corpina from Meridian Equity Partners, SpaceX's appeal is very strong in the eyes of retail investors. "Most people will be immediately interested if given the opportunity to invest in Elon Musk's space company," he said.
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