JPMorgan may accept some insiders’ SpaceX shares as loan collateral before its customary 135-day waiting period.
- The arrangement could let employees and early investors access cash without selling shares and potentially triggering taxes.
- SpaceX plans another Starbase near Louisiana’s remote Pecan Island to support high-cadence Starship operations.
- SpaceX plans to send Nvidia-powered orbital AI hardware into space in 2027 and reach “significant scale” in 2028.
Shares of SpaceX (SPCX) climbed 0.2% premarket on Wednesday as JPMorgan Chase moved to court wealth created by the company’s June IPO and CEO Elon Musk amplified arguments for a remote Louisiana site that could support more than 30 Starship launches a day.
SPCX stock rose 2% on Tuesday after closing Monday at $135, matching its June IPO price.
JPMorgan Courts SpaceX Insiders
Ahead of SpaceX’s June IPO, JPMorgan told its bankers it could accept some insiders’ newly listed shares as loan collateral earlier than its customary 135-day waiting period, the Financial Times reported, citing people familiar with the matter. This could allow eligible employees and early investors to access cash without selling their stock and potentially triggering taxes. JPMorgan earned $75 million from its role in the offering.
The bank reportedly said that its formal policy remains unchanged and decisions are made individually. “We have always assessed transactions on a case-by-case, client-by-client basis, factoring in elements such as market liquidity,” JPMorgan said.
Recently listed shares can be volatile and subject to lockups, making them riskier collateral. JPMorgan’s typical 135-day wait is also longer than the 30-day period broker-dealers generally observe after working on an IPO. JPMorgan bankers expect Anthropic employees could receive similar consideration after the Claude developer goes public.
SpaceX Eyes 30 Starship Launches Daily
SpaceX also announced on Tuesday that it plans to develop another Starbase near Pecan Island, Louisiana, to support high-cadence Starship operations. Musk amplified an X post from Payload Space Industry Research Director Jack Kuhr, who said Pecan Island is about 30 miles from the nearest town and 50 miles from a major city.
Kuhr said that the isolation could reduce the community and noise constraints surrounding Boca Chica, Texas. The existing site is five miles from South Padre Island and 15 miles from Brownsville. Citing Brigham Young University research and his own experience, Kuhr said Starship was noticeably loud many miles from the launchpad. He suggested community opposition could eventually limit Boca Chica’s cadence.
“For SpaceX to get to 30+ launches a day, this is the way,” Kuhr said regarding the Louisiana location.
Starship Cadence Demands Massive Oxygen Supply
A separate X user then calculated the potential propellant requirements of 30 daily Starship V3 launches. The user estimated that each fully fueled vehicle would require about 4,400 metric tons of liquid oxygen. At 30 launches daily, or 10,950 annually, SpaceX could need 48 million metric tons a year.
The user said that would require an “absolutely insane” industrial expansion, while acknowledging that the estimate depends on uncertain data about global liquid and gaseous oxygen output. Musk replied: “Not impossible.”
High-frequency Starship operations are central to SpaceX’s plans for larger Starlink satellites and orbital AI data centers. Musk recently amplified an Nvidia post and said SpaceX helped design a space-optimized version of its Vera Rubin processor. Musk said the hardware is planned for orbit in 2027 and at “significant scale” in 2028. Starship remains in testing, with its 14th flight expected in September.
How Do Retail Traders Feel About SPCX?
On Stocktwits, retail sentiment for SPCX was ‘bearish’ amid ‘low’ message volume.
One user said, “$SPCX Stock will go up. It will go down. All I know is $100 billion ARR in December. Getting as many shares as I can before that happens.”
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Another user warned, “$SPCX For anyone with a net worth under 10-20 million DO NOT SHORT THIS NAME. Do your grand kids a favor, and buy a generational company. Anyone with a NET above that short at will so we can squeeze you to 888 a share.”
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SPCX stock has declined 14% over the past three months.
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