SpaceX's crypto-traded IPO was sharply falling. It now points upward to a $2.4 trillion valuation
SpaceX's pre-IPO derivative contracts have rebounded, suggesting a market valuation of approximately $2.4 trillion, significantly higher than the official IPO price. Traders are increasingly optimistic about the company's market debut, despite earlier concerns about a cooling IPO market.
Why it matters
The valuation of SpaceX serves as a bellwether for the broader space industry and investor appetite for high-growth, capital-intensive technology firms.
The contract traded between about $176 and $183 on Friday morning, up from a low near $153 earlier this week and above the roughly $157 level seen when CoinDesk wrote Wednesday that crypto traders were marking down the expected IPO pop.
The article provides market data and analysis of trading trends without expressing a personal investment opinion.
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