SpaceX valuation rose by 12%, says fund where rocket launcher is top holding – MarketWatch
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” : ‘s.dev.’; const productHostName = `www.${productHostNamePrefix}${PRODUCT_DOMAIN[product]}`; return [productHostName, LOGIN_URL[product], `${(SHOP_URL[envGoogleEA] || SHOP_URL.dev)[product]}`]; }, _registerUser(credential) { const PRODUCT_DOMAIN = { WSJ: ‘wsj’, BOL: ‘barrons’, FN: ‘fnlondon’, MW: ‘marketwatch’, MG: ‘mansionglobal’ }; const EDITION_ID = { WSJ: ‘WSJ-EN_US’, BOL: ‘BARRONS-EN_US’, FN: ‘EFN-EN_US’, MW: ‘MARKETWATCH-EN_US’, MG: ‘MG-EN_US’ }; const REGISTRATION_SOURCE = { WSJ: ‘WSJ’, BOL: ‘BARRONS’, FN: ‘EFN’, MW: ‘MARKETWATCH’, MG: ‘MG’ }; const LOGIN_URL = { WSJ: ‘accounts.wsj.com/auth’, BOL: ‘accounts.barrons.com/auth’, FN: ‘accounts.dowjones.com/auth/fn’, MW: ‘accounts.marketwatch.com/auth’ }; const pageSiteProduct = window.utag_data.page_site_product; const registerUrlPrefix = envGoogleEA === ‘prod’ ? ” : ‘s.dev.’; const registerBasedUrl = `https://register.${registerUrlPrefix}${PRODUCT_DOMAIN[pageSiteProduct]}.com`; const registerEndpoint = `${registerBasedUrl}/api/createSocialConnectUser`; const loginUrlPrefix = envGoogleEA === ‘prod’ ? ” : ‘int.’; const loginBaseUrl = LOGIN_URL[pageSiteProduct]; const loginUrl = `https://${loginUrlPrefix}${loginBaseUrl}/google-login`; const targetUrl = new URL(window.location.href); targetUrl.searchParams.set(‘isGaa’, true); fetch(registerEndpoint, { method: ‘POST’, body: JSON.stringify({ id_token: credential?.credential, displayContextId: ‘SOCIAL_CONNECT’, returnUrl: window.location.href.split(‘?’)[0], editionId: `${EDITION_ID[pageSiteProduct]}`, registrationSource: `${REGISTRATION_SOURCE[pageSiteProduct]}` }), headers: { ‘content-type’: ‘application/json’, } }) .then((response) => { if (!response.ok) { console.error(‘GoogleEA: Social Connect Invalid Status Code’); return; } return response.json(); }) .then((userState) => { if (!userState) { console.error(‘GoogleEA: Social Connect No Data’); return; } window.location.href = `${loginUrl}?target=${encodeURIComponent(targetUrl)}`; }) .catch((err) => { console.error(`GoogleEA: Social Connect Err: ${err}`); }); } }; })() ]]]]]]]]>]]]]]]>]]]]>]]>
Last Updated: Aug. 10, 2023 at 9:54 a.m. ET First Published: Aug. 10, 2023 at 3:03 a.m. ET
The European Space Agency’s (ESA) Euclid space telescope launches on a SpaceX Falcon 9 rocket from Kennedy Space Center in Cape Canaveral, Florida on July 1, 2023.
gregg newton/Agence France-Presse/Getty Images
[]SpaceX’s valuation rose by 12% over the last year, according to a fund where the rocket launching company founded by Elon Musk is its top holding.
[]The Baillie Gifford U.S. Growth Trust said Thursday that the valuation of its stake in the year to May 31 rose to £39.2 million from £35 million, a period in which the pound fell by about 1% in value vs. the U.S. dollar. It didn’t identify how much of the company the fund held.
[]The fund discussed the performance of SpaceX in its annual review.
[]“In 2018 SpaceX made 21 launches, about half of which made successful ground landings. In 2022 the company launched 61 orbital missions, nearly doubling its previous single-year record of 31, set in 2021. That number means that SpaceX launched, on average, every six days from one of three sites. It is driving the launch market, taking two-thirds market share,” said the fund.
[]It pointed out that SpaceX has been able to drive down costs by using reusable rockets, including relaunching one of its Falcon rockets for the fifteenth time, while its COO and president, Gwynne Shotwell, has stated the Starlink internet business will make money this year.
[]Bloomberg’s Billionaires index says Musk’s stake in SpaceX is valued at $53 billion, about a quarter of his net worth of $224 billion. Musk’s stake in Tesla TSLA, +1.30% is worth $100 billion.
Rivian stock sinks after solid quarter as Wall Street is ‘torn’ about the EV maker
[]Praise for Rivian Automotive Inc.’s better-than-expected quarterly results failed to boost the EV maker’s stock on Wednesday, with most analysts keeping their cautious view on the company and on the direction of the stock in the near term.
[]Steven Goldstein is based in London and responsible for MarketWatch’s coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch’s economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.
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