The local fund managers are buying a small stake in Elon Musk’s rocket company just in case the stock doesn’t get any cheaper.

It’s off to the races for the Musk believers, who appreciate that no matter how many times his big promises have not been met, some of them have.

Jack Hu says there are indicators showing the stock will surge 20 per cent when it hits the boards on Friday, which is when he is hoping to cash in.