Investors can now gain exposure to SpaceX through private secondary markets, specialty ETFs and pooled funds, sidestepping the wait for a public listing. The rocket company is valued at roughly $1.25 trillion, making it one of the most coveted private assets. However, the firm’s financial picture remains opaque, especially after Elon Musk’s acquisition of xAI and lingering debt from the Twitter purchase. Bankers are reportedly crafting a refinancing plan that could trim the near‑$18 billion debt load, adding another layer of uncertainty for prospective investors.
Fund managers are at a five‑year high of bullishness, yet a record share warn that corporate America is overspending on capital expenditures amid uncertain returns. In Bank of America’s February survey of 162 managers, cash balances rose in February, signaling...