Scott Galloway

If it's at $2 trillion and there's $50 trillion of market cap in the NASDAQ 100, that means all the indices that track the NASDAQ 100 now have to put 4% of their assets under management into SpaceX stock, creating anywhere between $20 and call it $50 billion in additional demand that no IPO benefits from.

In addition, traditional IPO rules are that you have to issue at least 10%

of your shares.

They didn't, they issued 5%.

So massive artificial demand or demand that no one else has benefited from, from constrained supply that no one else has been able to manufacture.

And what you have is a pop, a 20% or 25% pop

on what I think is manufactured scarcity.

Now, the question is, where do you go from here?

And I would argue, someone called me and said, I have access to shares, should I do it?

I said, I think you should, but I would look at this as a trade, not as an investment, because eventually that manufactured scarcity begins to leak.

Lockups come off.

after a couple earnings calls, there will be some settling around where the stock reasonably should be.

But I think what we saw today was going to go down in the history books for bankers, the NASDAQ backing down, Elon Musk's power in the marketplace, creating a level of manufactured scarcity, the likes of which we have never seen before.

And just the last thing, this

This person told me who works at one of the lead underwriters is they did no less than 500 calls with high net worth investors, taking them through the deal and why it was a good idea.

So you have had some of the most talent people in finance basically crawling over anyone with a heartbeat or a pulse, high net worth, retail, et cetera, to try and create unbelievable demand.

So the bankers have done their job here.

I think they're gonna get about a half a billion dollars

in fees.

I thought it was a billion, but someone correct me and said it's half a billion.