Nasdaq: SpaceX to Officially Trade at 17:00 Saudi Time; 12 Leveraged/Inverse ETFs Set to Debut Next Monday
SpaceX SPCX | 0.00 | |
Airbnb, Inc. ABNB | 0.00 | |
Meta Platforms META | 0.00 | |
PROSHARES ULTRA SPACEX SPCF | 0.00 | |
Defiance Daily Target 2X Long SpaceX ETF SPCU | 0.00 |
According to the latest updates from Nasdaq, SpaceX(SPCX.US)'s IPO price quoting will begin at 16:50 Saudi Time, with official trading set to commence at 17:00 Saudi Time.
An Array of Leveraged ETFs Ready to Launch
Capitalizing on the hype, ETF issuers are already queuing up to offer derivative products. As early as next Monday, a massive lineup of 12 leveraged and inverse ETFs tied to SpaceX is scheduled to hit the market.
Nearly a dozen major institutions—including ProShares, Direxion, Defiance ETFs, and Leverage Shares—are rolling out 2x Long and 2x Short ETFs to track the aerospace giant.
According to public data, the following 12 leveraged and inverse ETF products tracking SpaceX are slated to list next Monday:
| Direction/Leverage | Ticker | ETF Name | Expense Ratio | Issuer | Exchange |
| 2x Long | PROSHARES ULTRA SPACEX(SPCF.US) | ProShares Ultra SpaceX ETF | 0.95% | ProShares | Nasdaq |
| Defiance Daily Target 2X Long SpaceX ETF(SPCU.US) | Defiance Daily Target 2X Long SpaceX ETF | 1.29% | Defiance ETFs | Cboe BZX | |
| DIREXION DLY SPX BULL 2X ETF(LOFF.US) | Direxion Daily SpaceX Bull 2X ETF | 0.95% | Direxion | NYSE | |
| Leverage Shares 2X Long SpaceX Daily ETF(SPCH.US) | Leverage Shares 2X Long SPCX Daily ETF | 0.75% | Leverage Shares by Themes | Cboe BZX | |
| Tradr 2X Long SpaceX Daily ETF(SPCM.US) | Tradr 2X Long SpaceX Daily ETF | 1.49% | Tradr ETFs | Cboe BZX | |
| GraniteShares 2x Long SpaceX Daily ETF(SPAL.US) | GraniteShares 2x Long SpaceX Daily ETF | 1.50% | GraniteShares | Cboe BZX | |
| T-REX 2X LONG SPCX DAILY TARGET ETF(SPAX.US) | T-REX 2X Long SpaceX Daily Target ETF | 1.50% | REX Shares / Tuttle Capital | NYSE Arca | |
| 2x Short | ACERUS PHARMACEUTICALS CORP(ASPCQ.US) | Defiance Daily Target 2X Short SpaceX ETF | 1.29% | Defiance ETFs | Cboe BZX |
| DOWNER EDI LTD(DNERY.US) | Direxion Daily SpaceX Bear 2X ETF | 0.95% | Direxion | NYSE | |
| SIRIUSPOINT LTD(SSPCF.US) | Leverage Shares 2X Short SPCX Daily ETF | 0.75% | Leverage Shares by Themes | Cboe BZX | |
| SPCG PUBLIC COMPANY LIMITED THB1(NVDR)(SPCGF.US) | Tradr 2X Short SpaceX Daily ETF | 1.49% | Tradr ETFs | Cboe BZX | |
| GRANITESHAR 2X SRT SPX DAILY(SNK.US) | GraniteShares 2x Short SpaceX Daily ETF | 2.20% | GraniteShares | Cboe BZX |
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Looking strictly from a fee perspective, the most advantageous products are Leverage Shares' SPCH and SSPC, both boasting a net expense ratio of 0.75%—significantly lower than most of the other products in this batch. For short-term traders, assuming normal trading volume and bid-ask spreads post-listing, these two are highly suitable for "cost-sensitive" investors to monitor first.
From the perspective of issuers, ProShares and Direxion (issuers of SPCF, DOWN, and LOFF) are established leaders in the leveraged and inverse ETF space. They have strong overall brand recognition and readily attract trading liquidity, making them better suited to investors who prioritize brand reputation, trading stability, and issuer experience.
A Friendly Reminder:
The defining characteristic of products like leveraged ETFs is their ability to "amplify volatility." If SpaceX continues to rise post-IPO, a 2x long ETF will multiply the daily gains; however, if the stock price moves in the opposite direction, losses will be synchronously magnified. The same logic applies to inverse ETFs.
It is crucial to remember that leveraged ETFs typically track daily returns and are not suitable to be simply used as long-term holding instruments. While the SpaceX halo is undeniably dazzling, the hotter the asset, the more vigilant investors must be regarding emotional premiums and drastic volatility during the early days of its public listing.
Market Trivia: Why Trading Times for New IPOs Vary
The confirmation of an exact trading time for SpaceX is actually quite surprising. Historically, whether on the NYSE or Nasdaq, newly listed stocks haven't had a fixed start time for trading. Investors looking to participate usually just have to wait patiently for the stock to officially open.
Why is this the case?
Unlike the Saudi stock market, new U.S. IPOs cannot be traded immediately when the market opens at 9:30 AM EST. Usually, there is a waiting period of an hour or even longer, and trading could commence at any time during the intraday session, requiring investors to monitor the situation themselves.
The Reason: Multi-Party Deliberation for a Fairer Opening Price
The underlying reason is somewhat complex. It primarily revolves around the exchanges' need for "price discovery," which is akin to a "call auction" process before official public trading begins. The hotter the stock, the more order information floods into Nasdaq before trading, which must be weighed for pricing. The New York Stock Exchange (NYSE) also invests significant human and technological resources into this process.
Both the NYSE and Nasdaq expend this massive effort to work alongside IPO underwriters to establish a fairer opening price.
Nasdaq previously explained this process in a statement regarding the Airbnb, Inc.(ABNB.US) IPO:
Before initial trading, they utilize specialized technology to access all orders alongside the designated agent (such as Airbnb’s lead underwriter, Morgan Stanley). They then determine the optimal time to commence trading and provide the necessary liquidity to match buy and sell demand. Consequently, as market interest in a new stock increases, the wait time before official trading begins also lengthens.
Of course, in addition to the ongoing discussions, evaluations, and pricing efforts by major institutional players, there are occasional instances in which dealers or companies select a specific "auspicious time" to list, or when technical glitches cause delays. For instance, Nasdaq "messed up" the Meta Platforms(META.US) IPO in 2012. On its first day of public trading, a glitch in Nasdaq's trading system forced a half-hour delay. Once trading finally started, traders and investors were left completely in the dark regarding whether their order quotes were executed or canceled.
Quick Summary:
- The factors determining the exact time a new stock officially begins trading on its first day are somewhat complex.
- It is quite common for hot new IPOs to only begin trading after midday EST.
- Investors must stay highly attentive and keep a close eye on their targeted stocks.
- You can also monitor Sahm push notifications to ensure you don't miss any vital updates.
(Note: "After midday EST" corresponds to after 19:00 Saudi time on the same day. Please be mindful of daylight saving time differences.