Investors are rushing to gain exposure to SpaceX in a “speculative frenzy” ahead of the rocket maker’s eagerly awaited flotation next month.
Since mid-December, when billionaire founder Elon Musk first confirmed rumours of what is set to be the largest initial public offering in history, a net $14bn has flowed into three mutual funds and four exchange traded funds holding slices of SpaceX, according to Morningstar data.
A wave of new products is also set to be launched, with filings made for at least 14 ETFs offering exposure to the stock once it is listed.
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