Latest / Best of Business / Remy Wisenberg: Milford Asset Management expert on SpaceX's market value going up following initial public offering

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Remy Wisenberg: Milford Asset Management expert on SpaceX's market value going up following initial public offering · Best of Business

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  Speaker 1: You're listening to a podcast from News Talk SEDB. Follow
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  Speaker 2: Hey, though, this is just apropos the council business. Hither
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  Speaker 2: I know a Hamilton City councilor who had to use
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  Speaker 2: the OIA to get information from the Hamilton City council management,
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  Speaker 2: which is outrageous. And by the way, it's called the
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  Speaker 2: lagoima when it comes to local count Isn't that a
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  Speaker 2: terrible where the lagoima comes to local government?
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  Speaker 1: Uh?
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  Speaker 2: Quarter past six. Now, Remy Weisenberg, Milford Acid Management is
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  Speaker 2: with us. Hey, Remy, Hi, have that? Okay? How has
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  Speaker 2: it been going with the space X shares after the IPO?
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  Speaker 3: Yeah, So that IPO it was met with very strong
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  Speaker 3: demand and today it's actually been performing pretty well. We've
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  Speaker 3: seen very strong gains on each of the three days
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  Speaker 3: it's traded. It's currently up around forty nine percent from
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  Speaker 3: its IPO launch price, and the total value of its
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  Speaker 3: shares or what we like to call market capitalization, that's
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  Speaker 3: already taken overtaken Amazon. So it's sitting at around two
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  Speaker 3: point sixty five, which puts SpaceX as the fifth largest
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  Speaker 3: company behind Microsoft at this point in time, but that
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  Speaker 3: share price, it could be volatile and it could be
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  Speaker 3: subject to some large swings because there's only currently a
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  Speaker 3: relatively small number of SpaceX shares that are actually available
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  Speaker 3: to trade. We also have a couple of other companies
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  Speaker 3: that are waiting in the pipeline to list on the
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  Speaker 3: public share markets, including some of those other AI type
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  Speaker 3: names like Anthropic. So how well SpaceX performs in the
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  Speaker 3: coming weeks were a really good test case for some
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  Speaker 3: of those other companies. Yeah.
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  Speaker 2: Now over to the Middle East, obviously, lots of big
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  Speaker 2: news with the peace steel. There has there been much
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  Speaker 2: market reaction to it.
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  Speaker 3: Yes, So after those initial reports of the peace steel
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  Speaker 3: and the likely reopening of the Strait, we initially saw
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  Speaker 3: global shares moving higher, We saw treasury yields coming down,
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  Speaker 3: and obviously those oil prices falling to three months low.
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  Speaker 3: Now what markets will be watching closely from here is
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  Speaker 3: how this peace steal and those lower oil prices will
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  Speaker 3: impact inflation expectations and also central bank policy, which then
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  Speaker 3: flows through to interest rates.
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  Speaker 2: And speaking of the central banks, where me we have
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  Speaker 2: the Federal Reserve meeting overnight. What's the market expecting there?
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  Speaker 3: Yeah, that's right, so it's a really big week for
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  Speaker 3: markets this week, first with the peace steal and now
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  Speaker 3: with the Federal Reserve tonight. Markets are generally expecting that
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  Speaker 3: the FED will keep the interest rates steady, but the
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  Speaker 3: meeting is going to be very closely watched and it's
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  Speaker 3: for a couple of reasons. One of those is that
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  Speaker 3: this is the first meeting under the new FED chair,
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  Speaker 3: Kevin Walsh, so the markets will really be watching his
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  Speaker 3: approach and his messaging and how he balances those opposing
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  Speaker 3: views from committee members on whether to raise or hold
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  Speaker 3: interest rates. We also get the revised projections from the FED,
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  Speaker 3: so the Fed's four class of inflation, GDP, growth, unemployment,
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  Speaker 3: and its own projections for the central bank rate. So
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  Speaker 3: markets will take all of this information and they'll use
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  Speaker 3: that to recalibrate their views on interest rate expectations.
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  Speaker 2: From here, brilliant stuff, Hey, Remy, Thank you has always appreciated.
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  Speaker 2: Remy Sisenberg, Milford Asset Management.
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