SpaceX IPO Is Here and Reddit Is Absolutely Feral About It
With $70B+ in retail orders and leveraged ETFs launching at the bell, the SpaceX debut is less IPO, more cultural event
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Reddit's investing communities are basically one giant SpaceX hype thread right now, and honestly? The data backs them up. The SpaceX IPO has pulled in over $70 billion in retail orders — making it the largest IPO in history, eclipsing Saudi Aramco's $30 billion debut in 2019. High-upvote DD posts are pointing to ~$75 billion in market cap being added to the Nasdaq, with index rebalancing creating forced buying pressure as early as June 18th (quad witch) and again on June 26th for MSCI and Russell.
The leveraged ETF crowd is salivating. Multiple providers are racing to launch 2x daily SpaceX ETFs at around a 1.25% expense ratio — one CNBC segment literally called it "the Super Bowl of leveraged ETFs." Meanwhile, Iranian state media declaring Musk's companies military targets is the kind of geopolitical plot twist that even WSB couldn't script.
S&P 500 won't fast-track the inclusion — full year seasoning required — so don't expect passive fund flows immediately. But with billionaires already fleeing to Nevada ahead of a potential California IPO windfall tax, the SpaceX trade is less about fundamentals and more about the fact that everyone, everywhere, wants a piece of this rocket ship.