SpaceX plans $1.75 trillion IPO selling only new shares
SpaceX, Elon Musk's rocket company, is about to make history with an IPO that could value it at a jaw-dropping $1.75 trillion.
The plan is to sell new shares only, so all the money raised will go straight into growing SpaceX's projects.
If all goes as planned, you'll see SpaceX trading on the Nasdaq under SPCX; the debut is expected as early as June 12.
Starlink profits, Elon Musk control concerns
There's huge buzz from investors thanks to Starlink's profits and data centers in orbit, even though other parts of SpaceX aren't making money yet.
One thing to note: This IPO will concentrate voting power in Musk and a small group of insiders, which has some investors a bit uneasy about governance.
Big banks like Goldman Sachs and Morgan Stanley are leading the charge on this historic deal.