Norm-breaking SpaceX IPO a source of elation, angst on Wall Street

The Korea Times

Norm-breaking SpaceX IPO a source of elation, angst on Wall Street

WASHINGTON — Elon Musk's SpaceX is just days from a historic stock market debut set to break all norms, drawing feverish excitement from Wall Street's financial wizards even as skeptics question whether the rocket maker can ever turn a profit. With the company set to stop taking investor orders Wednesday and pricing set for Thursday, the world's most anticipated initial public offering (IPO) is hurtling toward its expected Nasdaq debut on Friday. "Demand seems to be shaping up pretty well," Renaissance Capital's Matthew Kennedy said of the transaction that aims to raise $75 billion in what would be a record-breaking IPO. "No question that there is a ton of hype around it. Nothing captures the imagination like space," which is why the stock "has generated excitement in ways that few other stocks can," Kennedy added. The company — which builds rockets, provides satellite internet through its Starlink network, and recently merged with Musk's artificial intelligence firm xAI — will offer more than 555 million shares at an expected $135, placing SpaceX among Wall Street's most elite com

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