Want SpaceX Stock Before the IPO? These 3 Plays Give You a Back Door In.
Key Points
Elon Musk's SpaceX is gearing up for its initial public offering (IPO), which could value the space exploration company at as much as $2 trillion.
It may be hard for retail investors to participate in the offering prior to its listing, but there are three widely available stocks that give indirect exposure.
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After years of anticipation, privately held SpaceX finally has plans to go public. The Elon Musk-backed space exploration company filed with the Securities and Exchange Commission last month, and investors expect it to launch its initial public offering (IPO) in early June. Although SpaceX is reportedly allocating a large portion of the offering to retail investors, the opportunity for everyday investors to add exposure already exists.
Here are three publicly traded companies that already own -- or are set to own -- SpaceX stock: Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL), Bank of America (NYSE: BAC), and EchoStar(NASDAQ: SATS).
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Alphabet benefits from SpaceX in more ways than one
Google and YouTube parent Alphabet first invested in SpaceX in 2015, investing $900 million in exchange for a 7% stake. It's since been reported that Alphabet owned 6% of SpaceX at the end of last year.
That's not all. The tech giant's close ties with the company could benefit it in more ways than one. Alongside having direct equity in SpaceX, Alphabet's Google Cloud unit has formed an infrastructure partnership with SpaceX's Starlink satellite communications unit.
Bank of America bought in years ago
In 2018, BofA participated in a SpaceX equity funding round, investing $250 million. At the time, SpaceX had a valuation of around $30 billion. That would have given it less than 1% of SpaceX at the time.
EchoStar is set to get SpaceX shares
EchoStar's best-known asset is its satellite television business, Dish Network. However, it and SpaceX have a deal that, if given regulatory approval, will sell spectrum to SpaceX and include shares of SpaceX going to EchoStar. EchoStar could end up with a 2.8% stake. If the deal is approved and SpaceX has a $2 trillion valuation, EchoStar's position would be worth around $56 billion.
EchoStar shares have rallied over fivefold in the past year. Investors are already aware of its space stock status. However, given its current market cap of $34 billion, compared to the potential value of its potential SpaceX stake, this satellite stock could have more room to run after the IPO.
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Bank of America is an advertising partner of Motley Fool Money. Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.
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