Billionaires Including David Tepper and Philippe Laffont Piled Into SpaceX in the Second Quarter. Should You Follow?
SpaceX raised more than $85 billion in a record IPO in the quarter.
Overview
In the second quarter, an exciting new investment opportunity emerged: Space Exploration Technologies (NASDAQ:SPCX), commonly known as SpaceX, completed its record initial public offering. And that meant everyone from small retail investors to billionaires had the opportunity to easily buy shares of the company on the market as of June 12.
Demand during and post-IPO was high, with the operation raising more than $85 billion after the exercise of an overallotment option and the stock price climbing in its first days of trading. And in the month of June, several billionaires, including Appaloosa Management's David Tepper and Coatue Management's Philippe Laffont, bought shares of this industrial and technology giant. Should you follow? Let's find out.
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Originally published at www.fool.com.