Musk and Saylor Test the Economics of Hype

June 11, 2026

SpaceX is finally joining the stock market on Friday and the hype machine has been in overdrive. Banks and brokers around the world have been plastering spaceships on their websites. More than $100 billion in orders have come in from retail investors. There are naysayers and critics balking at the valuation and governance risks, but index providers allowing early inclusion (with the exception of S&P) means about 30% of the free float is set to be owned by passive investors, regardless of the