SpaceX IPO: could Musk pick Texas over Nasdaq?
00:00 Speaker A you had talked about it on a previous episode where you guys were talking about, uh, you know, SpaceX going public. Yeah. Yeah. And you guys were talking about Nasdaq versus NYSE where they're going to list. I think you all were wrong. I don't think they're going to list on either. I think they're going to list on the Texas stock exchange, which just got approval. Uh, they're based out of Texas. They have a a town in Texas. Elon Musk moved from Delaware to Texas. So the Texas stock exchange is going to get these the SpaceX. 00:32 Speaker B I didn't even think about that. 00:34 Speaker A You're welcome. 00:35 Speaker B I will say, well, thank you. But I will say, he's dying to also be be part of the triple Qs. That's one of his demands if he goes to Nasdaq. He almost wants a promise that right away they're going to add add him to the triple Q. If he goes to Texas, that's not going to happen. 00:53 Speaker A Yeah, and and you you can see why because Walmart is now on the Nasdaq and they trade at a 43 PE, you know, uh, so but I I think it's nice, but I think everybody's going to add, you know, SpaceX regardless. So I think the Qs would be nice, but it's like you can get exposure anywhere because there's all these other thematic ETFs that are out there that he'll get into and the Qs are eventually going to lose, you know, I think kind of that like we need to be in the Q's aspect. 01:25 Speaker B Right. Okay, Amy. 01:26 Amy It it's really funny because I was actually going to bring up exactly the same thing. And and here's the reason why, because one of the big trades that option investors are very focused on right now is again, that fast track getting to the Nasdaq, but we look at it from a spread perspective. So essentially how Nasdaq options are doing versus S&P. It's actually been very fair and a lot of people expect it to blow out if you get SpaceX later this year and then even later Anthropic, Open AI. And one trade that we do like is looking at QQQ calls because of that differential in pricing that we think should expand if this kind of creates that AI, fervor, FOMO and MoMO that we've seen so often in the past. 02:30 Speaker B Do you think one question because I want your thoughts on this too. Do you think that Elon Musk is got because I think he's going to, that he's going to allocate a bunch of SpaceX stock for the retail investor because he is dying to get the retail investor in before the stock trades publicly. Like they want to get it in before on the IPO price. 02:56 Amy Well, I don't think it'll be a lot, but I do think it, yeah. 02:59 Speaker A Yeah, they they they want that and you can see that's how he's he's ruled, you know, under Tesla with the way he's done uh, meeting, you know, his his quarterly meetings and things like that. It's just a a a function of the mechanism of how how to get that done. And the valuation has has just 03:20 Speaker B Right. 03:22 Speaker A Right. 03:28 Speaker B skyrocket, Yeah, skyrocket. 03:30 Speaker A such a short period of time. 03:30 Speaker B But I think you had to buy it anyway because I think it's just one of those things that you have to buy. 03:34 Speaker A Well, yeah, it's a long it's a long-term thing. It's a super cycle and he's he's as as a manager, he's done exceptionally well. I mean, think about it. He's I mean, the cost for him to go into space and to do what he's done dwarf what Gavin Newson has done with his hyper rail train. Yeah, I mean they spend more on that and he can't even lay a track. So so he's he's a phenomenal manager.
