Oppenheimer Holdings Inc. launched coverage of SpaceX, predicting a 40% upside for the company ahead of its IPO.

The SPCX perpetual still trades above SpaceX’s $135 offer price, but it has fallen sharply from its May highs as traders mark down the first-day premium.

SpaceX prices its $75B IPO at $135/share for June 12 Nasdaq debut. Here's how retail and crypto traders can access SPCX.