The clock is running.

Today, SpaceX lists on Nasdaq under ticker SPCX. $1.77 trillion valuation. $75 billion raise.

Thirty percent of that—roughly $22 billion worth—is reserved for retail investors like you.

That has never happened before at this scale. Not Amazon. Not Google. Not Apple.

This is the one.

So before the bell rings Friday morning, here’s what you need to do.

Before we go there, though, we reserved our best asymmetrical bets for our SpaceX SuperIPO Summit. This is last call for the Summit. If you haven’t already, click here to check it out.

Step 1: The Halo Trade

Here’s the thing about a $1.77 trillion IPO: the blast radius is enormous.

When the most valuable company in American history goes public, capital doesn’t just flow into SPCX. 

It flows into everything in the orbit of the space economy. Investors who can’t get SPCX allocation go hunting for the next best thing. Investors who do get SPCX allocation start looking for leverage.

That’s the halo trade.

History actually favors the halo trade over the IPO itself.

This is extremely powerful, expect to hear more about this from James and I in Altucher’s Investment Network.

When Google listed in 2004, the real money wasn't just in GOOG—it was in the infrastructure plays that Google's growth turbocharged. 

When Amazon scaled, the winners weren't just Amazon shareholders. 

The orbit always outperforms the center of gravity on a risk-adjusted basis. 

You get the theme without the first-day pop risk, the lock-up overhang, or the dual-class structure discount.

The space economy is no different. In fact it may be more pronounced — because SpaceX itself is the gravitational center of an entire emerging sector. Everything in its orbit gets revalued when the mother ship goes public.

Two names I’m watching:

Planet Labs (PL) — The eyes of the space economy. Planet operates the world's largest fleet of Earth-observation satellites, delivering daily imaging of the entire landmass of the planet. Defense contracts, agricultural monitoring, climate intelligence, maritime tracking — the demand for what Planet sees from orbit only grows as the space economy expands. A direct beneficiary of the attention and capital the SPCX listing brings to the sector.

Rocket Lab (RKLB) — The picks-and-shovels play. Every new constellation, every new satellite customer, every new orbital mission needs launch. Rocket Lab is building the infrastructure the space economy runs on.

These aren’t consolation prizes. They’re asymmetric bets on the same frontier thesis — at a fraction of the valuation.

Step 2: So You're Dead Set on Buying SpaceX

OK. Let's say you're 100% set on buying SpaceX directly—no proxies, no halo plays, just SPCX in your account.

Here's what you need to know.

The 30% pre-IPO retail allocation sounds like a lot. It isn’t.

Twenty-two billion dollars spread across millions of retail investors means demand will dwarf supply by orders of magnitude. 

If your brokerage is participating in the offering, get your indication of interest in today. Don’t wait until Wednesday night.

If you can’t get direct allocation—and most people won’t—don’t panic. SPCX will trade on the open market starting Friday morning just like any other stock. You can buy it at market open.

The question is whether you want to chase a first-day pop or let it breathe. Let’s get to that.

Step 3: Buy Today or Wait?

This is the question everyone’s asking. Here’s my honest answer.

First-day IPO pops are real. The excitement, the media coverage, the retail FOMO—it all compresses into a single morning. Prices can spike 20, 30, 40% at open and then spend months retracing.

That’s the bear case for buying Friday. And it has a long track record–IPOs at open generally generate negative returns for months or even years after.

Now here’s the bull case.

SpaceX is not WeWork. It’s not a story stock with no revenue and a dream. This is a company that did $18 billion in revenue last year, growing fast, with a launch manifest booked years out and a Starlink subscriber base that’s still in its early innings.

And here’s what I’d tell anyone who’s worried about timing: this isn’t a trade. It’s a position. The investors who bought Amazon at the IPO and held long enough didn’t care what they paid on day one. The investors who bought and flipped probably regret it.

If you believe the frontier thesis—that space is the next great American economic expansion—then the right move may be to get positioned and stay positioned.

A small “starter” position.

Buy only what you can afford to hold for a long time. Don’t bet the ranch on day one pricing. And don’t let perfect be the enemy of long.

The Bottom Line

Two and a half centuries ago, a handful of farmers, lawyers, and printers in Philadelphia made a bet that most of the world thought was insane.

They were outgunned, outfinanced, and given no chance by the consensus of their time.

They won anyway.

On Friday, the descendants of that bet go public on Nasdaq.

SpaceX is not a rocket company. It’s not a satellite internet company. It’s not even, really, a technology company in the way Wall Street uses that word.

SpaceX didn't just build rockets. It rebuilt the belief that Americans could still do hard things.

It’s what America looks like when it stops apologizing for its ambitions.

The IPO opens today. Independence Day is July 4th. Twenty-two days apart.

The most consequential American IPO in history opens for business three weeks before this country turns 250.

SpaceX is not a bet on Elon Musk. It’s not even a bet on rockets.

It’s a bet on the oldest trade in financial history.

Going long America. 🇺🇸🚀

Again, our SpaceX SuperIPO Summit is winding down. If you haven’t already seen our TOP ways to play the SpaceX IPO, click here before time’s up.