SpaceX is a California-based company that was founded in 2002 by Elon Musk. The company has multiple divisions but is primarily focused on aerospace vessels, space tourism, and communications. SpaceX has had several successful rocket launches of its Falcon line of shuttles, and has been developing a reusable rocket called the Starship. The company is best known for its long-term goal of sending a crew to Mars and establishing a colony there. Can I buy SpaceX stock? Let’s keep reading.
What is SpaceX?
Now of course, most people know Elon Musk as the CEO of the electric vehicle company, Tesla (NASDAQ: TSLA).
But few know that Musk actually founded SpaceX a year before Tesla was founded in 2003.
Musk speaks fondly about his lifelong aspirations of travelling to space, and truly believes that Mars can be a viable planet to inhabit. SpaceX is still early on its development, and has yet to begin any form of space tourism.
It has, however, managed to set up the Starlink network of high speed internet satellites. This is a system that is intended to provide all corners of the world with high speed internet access. But can I buy SpaceX stock?
Can I Buy SpaceX Stock?
As of now, Tesla remains Elon Musk’s only publicly traded company. In the twenty years that SpaceX has been in operation, it has yet to trade publicly on any stock exchange. You might be wondering why Musk would choose to keep SpaceX private given the success of Tesla.
Musk himself has cited SpaceX’s goal is such a long–term plan that it wouldn’t do well as a stock given the short-term demand of equities markets. Besides, with a net worth of nearly $275 billion USD, I don’t think Musk particularly needs another big pay day if SpaceX were to go public.
The COO of SpaceX, Gwynne Shotwell, offered a different perspective. She opined that SpaceX wouldn’t consider going public until it had successfully completed travel to Mars.
Given this is the company’s long-term goal, Shotwell said that this should be completed before she’d even entertain the idea of trading publicly. Given how management has conflicting views of this, it might not come to fruition anytime soon.
If Shotwell’s theory is true, stock investors might be waiting a while. In a recent Tweet, Musk was asked about a potential date for a SpaceX crew to fly to Mars. His answer: 2029. Given how the enigmatic CEO has been overly zealous with Tesla timelines, this could easily mean into the 2030s.
As of the end of 2021, SpaceX has a private valuation of $100 billion. This puts the company in the rare air of being a Super Unicorn. A Unicorn is a privately owned company that has a valuation of $1 billion.
As of now, it’s one of the most valuable privately owned companies in the United States. It has some catching up to do with Tesla though as the electric vehicle maker crossed the $1 trillion market cap level last year.
Can I Buy SpaceX Stock With Other Elon Musk Stocks to Invest in
Just because you can’t yet invest in SpaceX it doesn’t mean you can’t invest in Elon Musk. The world’s wealthiest person is involved with several companies both private and public. If you are looking to follow Musk into the latest trends, here are some other stocks you can invest in to get that Musk exposure.
Tesla (NASDAQ: TSLA)
Obviously! Tesla is a stock that is on nearly everyone’s watchlist.
The world’s largest electric vehicle maker has returned nearly 1,600% to its shareholders over the past five years.
The company continues to expand around the world, having recently opened its Austin and Berlin GigaFactories.
Tesla is the leading EV brand and in 2021 fell just shy of delivering 1 million vehicles worldwide.
The company also has things like the Tesla Robot, robotaxis, and FSD or Full-Self Driving autonomous driving technology on its roadmap.
The stock is one of a handful in the world with a market cap greater than $1 trillion. Musk recently announced that the company is seeking approval for its second stock split in as many years. If you’re asking can I buy SpaceX stock, at least you can buy Tesla.
Twitter (NYSE: TWTR)
Not only is Elon Musk a Twitter Super-User with over 81 million users, he is also one of the app’s most frequent users. It seems like Musk is always on the app posting news about his companies or responding to questions or criticism.
If that wasn’t enough, Musk recently acquired a 9.2% stake in the company. This makes him the single largest shareholder and the company also awarded him a seat on the Board of Directors. Musk has been a strong advocate for free speech, and his first tweet following the announcement was: ‘is Twitter dying?’
Investors responded by sending Twitter’s stock up by more than 25% after the news was announced. Shares would erase all of these gains by the end of last week so the optimism from the markets was short-lived.
Now Elon Musk has purchased Twitter the company. So as long as it stays a public company, more money will be going into his pocket. Can I buy SpaceX stock? No. But you can buy Tesla and Twitter and trade something Elon owns.
PayPal (NASDAQ: PYPL)
Not many people know that one of the first companies Musk founded was the payments giant, PayPal. Along with a group of people including Palantir (NYSE: PLTR) co-founder, Peter Thiel, Musk founded PayPal back in 1998.
While his tenure with the company was short-lived as Musk left PayPal in 2000, his fascination with internet money and digital finance has continued to this day.
PayPal will never be a company that Musk is widely associated with, but it did provide him with the capital to start other companies like SpaceX and Tesla a couple of years later.
Well, perhaps cryptocurrencies is a better way to put it.
Musk has revealed that both he and Tesla own positions in Bitcoin.
Musk has gone on to say that he also owns Ethereum and the meme token DogeCoin as well.
Publicly, Musk has had reservations with Bitcoin due to the amount of energy it uses. He has openly said that it conflicts with his goal of improving the environment through renewable energies.
Currently, Musk is working with Block (NYSE: SQ) and former Twitter CEO, Jack Dorsey, to create a Bitcoin mining facility that is open-source and solar-powered. Musk has an interesting relationship with DogeCoin as well.
He has often tweeted about the meme coin and almost single–handedly caused it to hit numerous all-time highs. Tesla even accepts DogeCoin at its online store to buy Tesla-branded memorabilia.
Can I Buy SpaceX Stock Or Invest In the Space Industry?
There was a time a couple of years ago where it seemed like everyone was bullish on investing in space. After the successful SpaceX rocket launch, many people thought we were closer to actual space travel than we really are. If you believe that space tourism is the future of travelling, here are a couple more stocks to watch.
Virgin Galactic (NYSE: SPCE)
This is the space tourism segment of the Virgin Group empire owned by Richard Branson.
Virgin Galactic went public via a SPAC merger with venture capitalist Chamath Palihapitiya.
The stock performance has been a volatile one, hitting a high of nearly $60 last year to its current price below $10.
In July of 2021, Branson and a crew became the first flight in history by a private company to enter outer space.
In February of 2022, Virgin Galactic began selling space tourism tickets to the general public for the cool price of $450,000 USD per ticket. By 2023, the company plans to have several flights to space per month.
Boeing (NYSE: BA)
A blue-chip aerospace stock, Boeing is a member of the Dow Jones Industrial Average and exclusive S&P 100. The Seattle, Washington-based company has been making negative headlines over the past few years.
Its 737 Max plane was involved in several crashes resulting in the plane being banned from use by most jurisdictions. Boeing is one of the top aerospace vessel makers in the world. While it is more known for airplanes, Boeing makes many of the components for rockets used by NASA.
Amazon (NASDAQ: AMZN)
A weird choice? Certainly. But Amazon also has a connection to space travel via its former CEO, Jeff Bezos.
The billionaire owns the space travel company Blue Origin, and has already flown into space with a crew much like Branson did.
No set schedule has been made by Blue Origin for space travel, but one can expect it to be similar to Virgin Galactic’s. The company sent Star Trek actor William Shatner into space at the age of 90 making him the oldest human to ever fly in space.
Conclusion: Can I Buy SpaceX Stock?
Right now, you can’t buy SpaceX stock since it is not a publicly traded company. Even with so many investors waiting to invest in SpaceX, it doesn’t seem like Musk has any plans to take it public. He already seems to have his hands full with Tesla and now Twitter. Could SpaceX trade publicly in the future? Anything is possible! But for now, you can check out the other stocks listed above if you want to get exposure to investing in either Musk or the space travel industry.