SpaceX may emerge as ultimate blueprint for new wave of mega-cap IPOs

SpaceX may be paving the way for a new generation of mega-cap initial public offerings (IPOs), according to insights from Nick Ryder, the chief investment officer at Kathmere Capital Management. Ryder suggests that the company's success could serve as a model for tech giants like Anthropic and OpenAI as they prepare to go public. Speaking on CNBC's "ETF Edge," Ryder emphasized that the ongoing market conditions will play a crucial role in how these future IPOs unfold. "It would not surprise me at all to see a similar dynamic play out with some of these IPOs set to come in the months ahead," he noted. He pointed out that the recent rally in the equity market has positively influenced SpaceX, which launched its IPO on June 12 with an astounding market cap exceeding $2 trillion. In just three trading days, SpaceX's shares surged by 53% from their opening price of $150. However, this rapid gain has settled, with shares currently up about 17% since the debut. SpaceX is recognized as one of the quickest stocks to be added to major financial indices, now included in the Russell 1000 and set to join the Nasdaq-100 on July 6. Arne Noack, head of equity and multi-asset indices for the Americas at FTSE Russell, believes that it is the index structures, rather than SpaceX itself, that will shape the future of IPOs. "As index providers, we have established a clear blueprint for fast-track eligibility for IPOs that meet specific criteria," Noack said, indicating that this framework is accessible for upcoming companies aiming for index inclusion.