SpaceX shares have surged nearly 40% from their recent lows, despite fears that its unusual staggered lock-up structure would unleash a wave of selling. So what actually happened?
Anthony Cheung and Stephen Barnett break down how IPO lock-ups work, why SpaceX’s tiny public float matters and how retail buying, index funds and a potential short squeeze helped drive the rebound.
We also return to EasyJet following Apollo’s £5.7 billion takeover, unpacking the private equity financing behind the deal, before looking at Cambridge Aerospace — the two-year-old UK defence technology company now valued at more than $3 billion.
A packed episode covering IPOs, private equity, debt financing, defence technology and some of the biggest stories moving markets.
(00:00) What’s Coming Up
(04:21) Why SpaceX Stock Surged
(05:27) Staggered Lock-Ups Explained
(12:36) Why Investors Bought the Dip
(15:45) The SpaceX Short Squeeze
(17:24) The Elon factor
(21:10) The Success of Staggered Lock-Ups
(23:12) Can SpaceX Justify Its Valuation?
(24:55) Apollo’s £5.7bn EasyJet Deal
(29:21) How Private Equity Funds a Takeover
(36:37) Apollo’s Plan for EasyJet
(40:00) The UK’s $3bn Defence Startup
(44:53) Coming Next: Boeing Deep Dive
