The SpaceX Question Every Singapore Investor Is Asking

Everyone in my group chats wants to know the same thing: do I buy SpaceX here or did I already miss it. After a leap past Amazon to the world's fifth largest company, that is a fair question, so let me think it through the way I think about any new listing.

Scarcity is real, but so is the float

There is genuine scarcity value in finally owning Starlink and the launch business in one public ticker. But the tradable float is thin, near 4%, and thin floats cut both ways. They exaggerate the run on the way up and they can exaggerate the air pocket when supply arrives.

What I tell my kakis

I do not buy something just because it went up. I want to know what I am underwriting. With SpaceX you are underwriting Starlink subscriber growth and launch cadence at a valuation that already assumes a lot goes right.

My plan

A small position is fine if you can stomach the swings and treat it as a long hold, not a trade. Sizing it like a core holding before the first earnings and the first unlocks, that I would not do.