The Assembly@InTheAssembly
SpaceX is about to be the largest IPO in human history.
But here’s the catch…
It’s also going to be the trade most retail investors REGRET for the next 5 years.
Here’s why, and the 4 space stocks I’m actually paying attention to instead:
On June 12, SpaceX will list on Nasdaq under the ticker SPCX.
The expected valuation is around $1.75 trillion.
That’s more than twice the previous record IPO, and more than the GDP of all but a handful of countries on earth.
But even if SpaceX doubles from there, your return is 100%.
In the same window, a small cap space stock with the right setup can do 5x or 10x.
The math simply does not work for retail investors hoping for asymmetric returns from a trillion dollar IPO.
You are buying a fully priced, fully discovered, fully institutional name on day one.
The real money in space is not SpaceX.
It’s in the smaller, less-followed public names that will get revalued the moment SpaceX trades.
Here are the 4 I am watching:
VELO Velo3D
3D prints metal parts inside SpaceX's Raptor engines. SpaceX backed them early and was their first customer. The cleanest direct supplier name on the public market.
RDW Redwire Space
The picks and shovels of space infrastructure. Solar arrays, deployable structures, microgravity manufacturing. The stuff every satellite and spacecraft needs.
BKSY BlackSky
Real-time earth observation satellites with major defense and intelligence customer base. Sub-billion-dollar market cap with a Pentagon backlog.
GHM Graham Corporation
Rocket turbopumps through its Barber-Nichols subsidiary. Already supplies multiple US launch players. Nobody is pricing the space exposure inside this name.
Most of these sit between $1 billion and $4 billion market cap.
Meaning even if they 5x to 10x from here, they would still be relatively small businesses.
That’s the power of an asymmetric bet. Either it goes to zero, or it does 5x to 10x over the next few years.
At The Assembly, we are a team of 8 with one goal: help you find the right stocks early.
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