Well, SpaceX IPO finally arrived. There was quite a bit of public 'buzz' with the massive size of the IPO stirring up the mainstream media, and lots of 'mum and dad' investors (aka 'mug punters') speculating about whether or not to invest in the IPO (not that many of them had access to the IPO, so would likely have been piling in on day 1. Even at my workplace I overheard a few client phonecalls where apparently they were thinking about investing in SpaceX. So it was reminiscent of the 'stock tips' and speculation in the lead-up to the Great Depression:
"In the winter of 1928 Joe Kennedy, father of JFK and major stock market player, stopped to get his shoes shined. The shoeshine boy leaned in and said, “Buy Hindenburg”. Kennedy began unwinding his positions saying, “You know it’s time to sell when shoeshine boys give you stock tips. This bull market is over.”"
My tiny ($2K) speculation to buy into SpaceX indirectly a couple of months ago (via investing in XOVR) didn't seem to benefit from the Day 1 intraday mania in SpaceX that I had expected. Given that XOVR has an exposure equivalent to about 24% of its overall investments. I will wait and see how the SpaceX stock price tracks next week, and if the price of XOVR starts to reflect the movement in SpaceX more in line with my expectations (eg. the 6.4% EOD change in SpaceX stock price *should* have resulted in XOVR ending the day up by about 1.6%, rather than 0.7%.
In any event, my speculation on XOVR has still done quite well since my purchase of 100 shares at USD$17.01 on 13 April - closing at USD$19.67 on Friday. The other two largest positions XOVR holds are NVidia and Alphabet, so this is sort of an AI and SpaceX play overall.
Unfortunately the other speculative play I made was to buy Palantir, expecting it to do well from the US Iran war and AI exposure -- but it got an early start on the current AI 'correction' regarding excessive enthusiasm for AI stocks after initial speculative about the Minab Tomahawk strike blamed Palantir's involvement in Project Maven (later turned out that the lack of human oversight/verification in the 'kill-chain' and outdated military database regarding the use of the school building) were more at fault). PLTR has performed well over the past 5 years, so hopefully the stock price will recover over time.
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