Investor Gary Black of The Future Fund LLC has said that SpaceX investors could initially benefit following the IPO, as expedited inclusion in the Nasdaq-100 and S&P 500 indices could provide a boost.
Gary Black On SpaceX IPO
In a post on X on Saturday, the investor said he considered SpaceX “overpriced at $2T valuation,” citing the company’s earnings of $6.6 billion and revenue of $18.7 billion.
Something went wrong.
However, the investor acknowledged factors that could “engineer a first day IPO pop for investors who are allocated shares,” like a faster listing on the indices, as well as the “distribution power” offered by Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS) as the lead underwriters. “The relatively low % float to be issued in the SPCX IPO (4%),” could also provide a boost, Black said.
