2 Stocks About to Benefit Enormously From the SpaceX IPO Boom

The market is treating SpaceX optionality as a clean mark-up to both holders, but the distribution of upside is not symmetric. GOOGL’s exposure is effectively a venture-style call embedded inside a much larger cash-generative platform, so even a huge IPO re-rate is unlikely to change the core valuation debate; for SATS, by contrast, the SpaceX linkage is becoming part of the equity story itself, which means the stock can trade like a funding proxy and can overshoot both up and down on regulatory headlines.

The second-order effect is that a successful SpaceX listing may compress the scarcity premium across adjacent private aerospace and satellite names, while also forcing public-market comparisons that expose which businesses have real standalone economics versus story-driven multiple expansion. If SpaceX prices at the high end, investors will likely re-underwrite capital intensity, launch cadence, and customer concentration across the space ecosystem; that is a medium-term headwind for weaker balance sheets and a tailwind for suppliers with real pricing power.

The biggest near-term risk is timing mismatch: the IPO narrative is a months-long catalyst, but approval and listing execution can slip, which would hit SATS hardest because the stock has already re-rated on anticipation. A less obvious downside is that a blockbuster debut could actually reduce the incentive to hold indirect exposure if investors decide the embedded stake is too small relative to GOOGL’s enterprise value, limiting incremental upside there. Consensus may be overestimating how much the SpaceX mark-up matters for Alphabet and underestimating how much of SATS’s move is already forward-discounting an approval path that is still binary.