SpaceX First Day: Not Just Going Public, But a Power Transfer

Don't just watch the 19% increase; the real power game has just begun.
SpaceX closed at $161 on its first day, up 19%. Market cap of $2.1 trillion, ranked 9th globally.
Surpassing Meta? Still a bit short, but already shocking enough. Even more heartbreaking — it traded $80 billion in one day, equivalent to one-tenth of a day’s trading volume in A-shares.
This is not an IPO; it’s a printing press in action.
What does $80 billion in trading volume mean? Extremely high turnover rate.
To put it plainly: early shareholders are selling, retail investors and institutions are buying.
Who is selling? Those insiders who held for ten years and multiplied their holdings hundreds of times.
Who is buying? New retail investors afraid of missing out and funds forced to build positions.
This isn’t investing; it’s a relay of faith.
The data that truly makes Wall Street shut up has arrived.
Goldman Sachs and Morgan Stanley each earned $21k in underwriting fees.
For an IPO of similar size (like Saudi Aramco), normal fees are $20k to $1 billion.
Elon Musk simply said: “My job, whether you like it or not.”
Investment banks don’t dare to raise prices, afraid of being kicked out. This is SpaceX delivering a blow to the financial world in a lower dimension.
Today (June 13), MSCI officially announced inclusion.
Passive funds have no choice; they must buy. No matter how high the price is, no matter who is selling, the system automatically executes.
In the coming days, the most certain buyers are without debate, only execution.
The thing that shorts fear most is called “passive index buying.”
Next Tuesday, CBOE will launch options.
Large holders can finally hedge. This means two things:
Institutions that previously dared not hold shares now dare to (they have insurance).
Short sellers also gain weapons (they can sell naked calls).
The first day was just a teaser; starting next Tuesday, the real meat grinder of bulls and bears begins.
Next, focus on two core variables:
① Can MSCI passive buying sustain the $161 price? For several consecutive days?
② After options launch, how crazy will implied volatility (IV) spike?
If IV exceeds 100%, it means the market is crazy; if IV drops below 50%, it indicates institutions have already priced in.
The first day is about sentiment; next week is about the truth.
“Wall Street kneeling to make $100 million, Musk standing to split $2 trillion.”