With the S&P 500 up 2.5% through the first half of this month, “sell in May and go away” hasn’t been great advice this year.
That’s subject to change, but a summertime swoon might not materialize this year for a variety of reasons
One is that investors will finally be able to get their hands on SpaceX stock, because Elon Musk’s company is getting closer to an initial public offering (IPO). SpaceX’s IPO prospectus could be released as soon as this week, according to published reports, paving the way for an early June roadshow. That could set the stage for the stock to come to market as soon as next month.
With speculation that SpaceX will be the largest IPO in history and investors hoping the Musk touch is again golden, it’s possible that spirits will be lifted, and risk assets could rally during the often-quiet summer months. One thing is certain: Space stocks and the related exchange-traded funds (ETFs) are sure to be in focus in the weeks and months ahead, making the Tema Space Innovators ETF (NYSEMKT: NASA) worth examining. Getting to know NASA If you’re not yet familiar with the Tema Space Innovators ETF, don’t fret, because this is a new ETF.