SEC Filings Just Revealed the Smart Money Is Overweight SpaceX. Should You Buy It Now?
Institutional investors could determine the future of SpaceX's stock price.
Overview
One of the most anticipated IPOs in a long time, Space Exploration Technologies (NASDAQ: SPCX), went public in mid-June, shattering records for new issues. SpaceX raised $86 billion in total from its IPO, valuing the company at about $1.77 trillion.
Now that SpaceX is a publicly traded company, institutional investors are required to disclose any stakes in the company on their quarterly 13F filings. Form 13F shows publicly traded U.S. stock positions held by institutional investors with more than $100 million under management at the end of each quarter, and they must be filed within 45 days of the end of each quarter. That means Aug. 14 revealed exactly which big institutional investors held SpaceX shares at the end of the quarter and how much they owned.
Details
The so-called "smart money" is overweight in SpaceX relative to the total market. Should small retail investors join in?
Source
Originally published at www.fool.com.