By Niket Nishant and Shashwat Chauhan<\/p>\n
March 27 (Reuters) – From rocket launches drawing millions of YouTube views to social media frenzy over its potential listing, SpaceX’s debut is shaping up to be a landmark moment for Wall Street.<\/p>\n
Traders \u200care betting thousands of dollars on the company’s ticker and speculating over its entry into the most elite \u200cclub of U.S. companies, giving the world’s most valuable startup a level of social media buzz that only a few companies enjoy, especially when they are yet \u200bto file their IPO paperwork.<\/p>\n
On Polymarket, users were betting on topics including the company’s targeted valuation, the exchange it will list on and the ticker its shares would trade under. The combined trading volume of such bets exceeded more than $15.2 million, as of Friday.<\/p>\n
Odds on the prediction markets platform put a 25% chance on SpaceX choosing the letter “X” as its ticker, a sharp drop from 60% a \u200cmonth ago.<\/p>\n
The single-letter ticker is up for \u2060grabs after U.S. Steel, which reportedly held it for over a century, delisted from the New York Stock Exchange after being bought by Japan’s Nippon Steel last year.<\/p>\n
Musk’s social media platform is also called \u2060X after a rebrand from Twitter in 2023.<\/p>\n
Tuttle Capital Management CEO Matthew Tuttle said a better alternative would be “SPCX” – also the ticker of an exchange traded fund his company manages.<\/p>\n
Tuttle has indicated openness to selling the SPCX symbol to SpaceX.<\/p>\n
“I’ve not heard from Elon, but my \u200bphone line \u200bis still open and I’m holding out hope that I get \u200ba call,” he said.<\/p>\n
Apart from X, other potential options \u200cfloated on Polymarket include “SPAX” and the risqu\u00e9, “SEX”. However, users see a roughly 70% probability that the company chooses a different ticker altogether.<\/p>\n
FROM MAGNIFICENT SEVEN TO SUPER EIGHT?<\/p>\n