Would you buy: Yes
Shulman’s ETF, XVRO, which he said was the first ETF to put private shares on the public market, already owns shares of SpaceX. But he doesn’t think all the gains have already been made.
“It is 100% going to open at a premium,” he said.
In his view, Elon Musk may be the greatest entrepreneur of all time, describing his vision of data centers in space, with lower cooling costs and cheap solar power, as “game over,” and a culmination of the business’s three main engines: rockets, Starlink, and xAI.
But market dynamics will also help, he said. Sure, the S&P 500 isn’t fast-tracking the stock, but the Nasdaq and Russell indexes buying it up should more than make up for it. IPO orders are already oversubscribed, meaning strong demand, he said, and he theorized that last Friday’s poor stock market performance may have something to do with investors gearing up to buy next week.
“I wouldn’t be surprised if some fund managers today are freeing up cash to buy SpaceX next week,” he said.
