The SpaceX Effect Has Already Started

Every once in a while, a single company changes an entire market — not gradually, but all at once.

That's what's happening right now with SpaceX.

Whether the IPO happens this year or next, the market is already beginning to price it in.

I believe it will happen at some point in the next 90 days, but that is just my opinion.

SpaceX isn't just another private company lining up to go public.

It's likely a $1–$2 trillion IPO — one of the largest in history. And more importantly, it's the first true pure-play leader in the modern space economy.

We haven't had that before. Not at this scale.

So why is this different?

Most IPOs are about giving investors access to a company. This one is about validating an entire industry.

For years, space has been treated as speculative — too early, too capital intensive, too uncertain.

But SpaceX changed that. It dominates global launches, built a massive recurring revenue business with Starlink, and lowered costs in a way no one thought possible.

Now the question isn't whether the space economy works, it's how big it becomes.

Here’s what most investors miss.

When a company like SpaceX goes public, capital doesn't just flow into that stock — it flows across the entire theme. Large institutions can't put all their money into one name, especially one that may already be worth over $1 trillion. So they look for exposure elsewhere.

And that's where the real opportunity is… it’s what I call the second draft.

The first draft is obvious - SpaceX.

The second draft is where investors look next: who benefits from more launches, who builds the satellites, who supplies the components, and who provides the data, defense systems, and infrastructure.

That's where capital starts to spread, and that's where you typically find outsized returns.

You don’t need to wait for the IPO.

The setup is already forming.

There are publicly traded companies tied to:

And many of them are still flying under the radar, for now. But once SpaceX goes public… That changes fast.

You probably won't get early access to SpaceX — though it is possible if you know where to look.

Most investors won't take the time and work to invest in SpaceX before it goes public. But that doesn't mean you miss the opportunity.

The biggest gains rarely come from the headline name alone — they come from the ecosystem that grows around it. And right now, that ecosystem is still being priced like it's early, even as the biggest player in the industry is about to step onto the public stage.

The biggest mistake investors make with moments like this is waiting for confirmation. By the time SpaceX is trading publicly — on every headline, in every portfolio, in every index — the easy money will already be gone.

The real opportunity isn't in reacting to the IPO. It's in positioning before the flood of capital hits everything around it.

Here’s to the future, 
Matt McCall
Founder, NXT Wave Research