SpaceX, the aerospace and AI company founded by Elon Musk, will go public on June 12.
It could raise $75 billion at a valuation of $2 trillion, making it the biggest IPO in history
Many investors are selling other stocks to free up cash to buy SpaceX’s shares. However, one stock that resisted that sell-off was AST SpaceMobile (NASDAQ: ASTS), which operates in the same satellite internet services market as SpaceX’s Starlink. Instead, AST’s stock rallied more than 30% this year as SpaceX’s looming IPO lifted most space stocks.
Should investors take profits in AST today to buy more shares of SpaceX? The differences between AST SpaceMobile and SpaceX AST and SpaceX’s Starlink both operate Low Earth Orbit (LEO) satellites that provide internet connectivity to areas where terrestrial cellular towers can’t reach. However, the two companies operate different business models.