As usual, retail investors on StockTwits, Twitter, and Reddit stay busy.
There is a new rumor developing on the back channels of these social media platforms.
On Stocktwits, message volume for the IPOF ticker has increased by 19%. Furthermore, several Stocktwits members are circulating rumors that Chamath Palihapitiya’s special purpose acquisition company (SPAC) may merge with SpaceX.
SpaceX has raised more than $7.5 billion in funding rounds with investors that include the United States Space Force and Spectre. Elon Musk is the founder, CEO, and Chief Engineer at SpaceX.
It is unknown whether or not Musk would favor an IPO or SPAC listing on the market.
This rumor originally gained traction when Palihapitiya abruptly stepped down from Virgin Galactic’s company board In February, fuelling the rumors SpaceX could be a Social Capital target. With Richard Branson in charge of Virgin Galactic and Elon Musk heading up SpaceX, the two companies could be considered rivals.
There is no legitimate confirmation of this possibility. Investors will have to keep a close eye on $IPOF in the coming weeks.