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Unhedged

SpaceX nears lift-off

5/26/202626 min

SpaceX is set to be the largest listing of all time. But it might not be just the launch of a new publicly traded stock. It might be a reorganisation of how indexes treat new entrants. Today on the show, Katie Martin and Rob Armstrong are joined by Lex editor John Foley to discuss a most unusual IPO. Also, they go long horror films and long the Iranian news media. 

For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.

You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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Clips

Rules Bent for SpaceX Index Entry
It's Obviously Mad Valuation
Seventh Biggest, Still Losing Money
Dinosaurs, Data Centers, Musk Rationale
Market Caps Aren't Real
Musk's Unremovable Power Structure

Transcript preview

First 90 seconds

  1. Katie Martin· Host0:00

    [upbeat music] Pushkin. The stock market listing of SpaceX is coming, and the hype is real. Elon Musk reckons this thing, I don't know, cobbling together AI, satellites, and all sorts of other stuff, is worth, get this, $1.75 trillion. The bravado is quite something. Today on the show, we pick through some of the details of the SpaceX listing and ask, seriously now, what the hell? [upbeat music] This is Unhedged, the markets and finance podcast from the Financial Times and Pushkin. I'm Katie Martin, a markets columnist at the FT in London, which is sweltering, I tell you, under a record-breaking heat wave. Stay hydrated, people. Joining me back from his travels in New York, we have the big fella, Mr. Robert Armstrong. Rob, say hi.

  2. Robert Armstrong· Host1:00

    Hi.

  3. Katie Martin· Host1:01

    Or you could even say ciao, given that you've been on your travels in- Ciao.

  4. Robert Armstrong· Host1:05

    Ciao, bella.

  5. Katie Martin· Host1:06

    [laughs] But we also have back on the show, Mr. John Foley, head of Lex. John, hi.

  6. John Foley· Guest1:14

    Hi, Katie.

  7. Katie Martin· Host1:15

    So John, you- you've been digging through hundreds of pages of docs from SpaceX about its proposed listing. What is your favorite bit of these documents, please?

  8. John Foley· Guest1:25

    My favorite bit, Katie, is the dinosaurs. It's the bit that says that if we don't buy

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