Reports That Musk’s SpaceX will File for a Share sale Cause Rocket Stocks to Jump

This year, SpaceX is anticipated to go public with a valuation of over $1.75 trillion (£1.31 trillion). The company could register for the initial public offering (IPO) in a matter of days, according to the technology news outlet The Information. SpaceX has been approached by the BBC for comment.

According to reports, SpaceX, a rocket manufacturer and launcher, might raise over $75 billion from the share sale. In such case, it would be the largest stock market debut ever. The stock prices of other companies in the space sector also increased on Wednesday, including Intuitive Machines, which had a nearly 15% increase, and Planet Labs, an Earth imaging company, which experienced a more than 10% increase.

AST SpaceMobile’s stock increased by 10%, while satellite manufacturer Sidus Space had a gain of about 19%. The richest man in the world, Elon Musk, launched SpaceX in 2002. He also owns a number of other businesses, such as the social media platform X, the electric vehicle behemoth Tesla, and the brain implant company Neuralink.

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