SpaceX has received a new boost from Wall Street as reports indicate potential retail demand of more than $70 billion ahead of what could become one of the largest public offerings in the history of the US market.
summary
- Oppenheimer initiated coverage of SpaceX with an Outperform rating and a $190 price target ahead of the IPO.
- Reports indicate that the offering could attract more than $70 billion in applications from retail investors.
- CryptoQuant data showed no clear evidence that the Bitcoin sell-off was driven by investors shifting their money into SpaceX shares.
According to Oppenheimer, the brokerage initiated coverage of SpaceX with an βoutperformβ rating and a price target of $190, which would imply a significant upside from the companyβs expected IPO price of $135.
The company’s coverage comes as investor interest continues in the airline’s planned stock market debut.
Framing its investment case around technology integration, Oppenheimer said SpaceX is positioned to combine space infrastructure and AI-driven systems with the use of terrestrial computing capabilities to improve efficiency and expand services. Such an approach can help reduce operating costs while supporting future growth initiatives, the company said.
Excitement around the offering has intensified as investors await the company’s debut on Friday, June 12.
While optimism remains high, political scrutiny has also emerged. Senator Elizabeth Warren recently Named The US Securities and Exchange Commission agreed to postpone the IPO, adding a regulatory dimension to the discussions surrounding the listing.
Along with its coverage of SpaceX, Oppenheimer raised its outlook for Tesla stock, citing increased demand for electric vehicles amid rising oil prices. The company noted that Tesla’s long-term performance will remain largely dependent on implementation in the artificial intelligence and electric vehicle markets.
Wall Street forecasts point to gains after the listing
In addition to Oppenheimer, additional companies have begun publishing forecasts for the stock. New Street Research initiated coverage with a price target of $165, which represents a roughly 22% upside from the proposed IPO price.
These expectations emerged as institutional and individual investors competed for exposure to the company founded by Elon Musk. Reports Citing people familiar with the matter, he points out that retail demand alone could exceed $70 billion, highlighting the amount of investor interest before the stock starts trading.
Allocation plans also contributed to increased enthusiasm. According to reports, at least 20% of the IPO shares could be reserved for retail investors, a relatively large portion for an offering of this size. The structure would give individual traders a greater role than typically seen in major U.S. listings.
Meanwhile, reports indicate that less than 10% of the shares may be allocated to international investors, suggesting a strategy focused primarily on local participation.
The cryptocurrency market is watching for potential capital competition
The interest surrounding the IPO has extended beyond stock markets and into the digital asset sector.
Such as crypto.news I mentioned Earlier, some analysts warned that SpaceX’s listing could compete for investors’ capital at a time when cryptocurrencies are already facing pressure from ETF inflows and weak sentiment.
The discussion gained momentum after Bitcoin (BTC) fell approximately 16% during the same period that SpaceX began marketing its public offering. Bitcoin briefly fell below $60,000 before recovering toward the $61,000 level, according to market data cited in the reports.
Despite the timing overlap, available blockchain data has not proven a direct link between the two developments. According to CryptoQuant data reviewed in the reportexchanges recorded no unusual withdrawals of USDC or Tether during the sell-off.
Stablecoin flows have remained within the ranges observed since February, suggesting there is no clear evidence of investors moving significant amounts of cryptocurrency liquidity to fund IPO purchases.
However, reports that retail investors can access the offering through platforms like Robinhood, Fidelity, and Charles Schwab have kept the discussion lively as the market prepares for SpaceX’s highly anticipated debut.
Disclosure: This article does not constitute investment advice. The content and materials contained on this page are for educational purposes only.
