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SpaceX is preparing for a record $75 billion（約12兆円） market debut on Friday. Wall Street exchanges, market makers, and brokerages have undergone weeks of preparation, including simulations and stress-testing. Nasdaq invited clients to weekend mock IPOs over the past month, and executives at firms like Citadel Securities and Jane Street have been running numerous simulations. Morgan Stanley is serving as the IPO's stabilization agent responsible for ensuring orderly trading.
Why it matters
Facebook's 2012 IPO was marred by technical glitches that created hours of uncertainty over trade execution and cost market-makers hundreds of millions of dollars. A botched SpaceX launch could damage confidence in other anticipated blockbuster IPOs lined up for later in the year, including offerings from Anthropic and OpenAI. Market participants view a smooth trading kickoff as critical for the broader market's health.
What to watch
SpaceX's Friday trading debut. The deal's unprecedented size has prompted S&P Global, which is providing technology for institutional investor allocations, to conduct constant system testing. A successful opening would signal readiness for the wave of high-profile IPOs expected later this summer.
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