Cryptocurrency punters are confident that the market’s new sensation, Space Exploration Technologies Corp. (NASDAQ:SPCX), will open higher on Monday.
SPCX To Rally?
At the time of writing, Polygon (CRYPTO: POL)-based Polymarket assigned a 92% possibility that SpaceX’s opening share price on Monday is greater than or equal to the closing share price on its IPO debut on Friday.
The odds jumped a whopping 32 percentage points in the last 24 hours, fueled not only by its blockbuster opening but also by favorable geopolitical developments.
Notably, President Donald Trump confirmed on Sunday that the peace deal with Iran is “complete,” which lifted stock futures and cryptocurrencies and increased the chances of a stronger market open on Monday.
The New Sensation On Wall Street
SpaceX's IPO was a landmark event, raising $75 billion through the sale of 555.6 million primary shares.
The shares opened at $150, reflecting immediate institutional and retail demand well above the offering price of $135, marking the largest stock market debut in history.
The aerospace giant is riding a wave of unprecedented optimism. New Street Research recently projected SpaceX could generate roughly $195 billion in revenue by 2030, while ARK Invest‘s Brett Winton suggested revenue could eventually reach between $300 billion and $400 billion.
Elon Musk himself said that the firm could generate about $1 trillion in annual revenue by 2030.
Price Action: SpaceX shares were up 5.61% in Monday’s pre-market trading after closing 19.22% higher at $160.95 during Friday's regular trading session.
The SPCX stock exhibited a weaker price trend across short-, medium-, and long-term horizons, according to Benzinga's Edge Stock Rankings.
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