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Gary Black: SPCX IPO opens at $150, rises to $164 after debut
Gary Black, managing partner, investor at The Future Fund, discusses the debut performance of SPCX shares. The SPCX IPO opened at $150, which was 11% above its IPO price of $135, and subsequently rose to $164, marking a 21% gain over the IPO price.
Black compares this performance to the META IPO in May 2012, noting that META’s IPO was priced at $38, opened at $42 (11% above the IPO price), and quickly climbed to $45, representing an 18% increase versus the IPO price.
Black has recently highlighted gains in AVGO shares as Wall Street renewed interest in custom AI chips. Earlier, he noted that stocks fell pre-market amid weak AVGO guidance and a sharp Bitcoin decline. These observations come as investors closely track sector moves following high-profile IPOs.
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