SpaceX IPO approaches, triggering fund reallocations; Wall Street may sell billions of dollars in tech stocks to rebalance and subscribe

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Golden Finance reports that, according to The Information, SpaceX is about to launch a large-scale initial public offering (IPO), prompting a flurry of activity among major Wall Street funds. The report states that about a week ago, a private jet bearing the SpaceX logo carried nearly 200 investors from large Wall Street funds to Texas to attend a multi-day roadshow presentation hosted by SpaceX executives. Due to overwhelming subscription demand, there was even a situation where the plane could not accommodate all interested investors. As this company, which combines Musk’s rocket and AI businesses, approaches its IPO, Wall Street may be discussing which tech stocks to sell in order to free up funds to subscribe to SpaceX shares, likely triggering a multi-billion-dollar tech stock sell-off.

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