SpaceX Shares Indicated More Than 35% Higher on Gray Markets

Pre-IPO trading in derivatives linked to SpaceX indicates a gain of anything between 30% and 50% for Elon Musk’s rocket, satellite and AI company as retail investors flock to the much anticipated listing.

Derivatives offered by online brokerage IG International pointed to a market value of $2.4 trillion Friday morning in Singapore, implying a gain of more than 35% from a price of $135 a share and valuation of $1.77 trillion in the initial public offering.

SpaceX-tied perpetual futures, contracts that don’t expire, on crypto venue Hyperliquid were trading around $180, implying a valuation of more than $2.3 trillion. ...