Orbiting Wealth: Institutions Load Up SpaceX
Market Beat·- Institutional investors, including university endowments and corporate treasuries, are aggressively accumulating shares of SpaceX following its June 2026 initial public offering. - Driven by a 92% year-over-year revenue surge and the deployment of Starlink V3 satellites, SpaceX is transitioning toward a high-margin, recurring-revenue model. - Despite strong institutional backing and growth, the company trades at a stretched valuation near a $1.9 trillion market capitalization with a price-to-sales multiple of nearly 102.3 Tech Trends Taking Over This Afternoon
Schaeffers·- Meta Platforms Inc shares fell 3.8% amid an ongoing multi-state lawsuit regarding its impact on young users. - Micron Technology Inc shares surged 4.8% past the $1,000 mark, driven by AI sector momentum and restrictions on competitors. - SpaceX shares gained 5.7% following projected annual revenue milestones of $100 billion by 2026 and $1 trillion by 2030.