Alphabet's SpaceX Stake Soars to $94B, Making It Top Institutional Holder
GOOG sits 75% above its 52-week low of $197.46.
Summary
Alphabet's early $900 million investment in SpaceX has ballooned to a $94 billion stake as of June 30, making it the largest institutional holder of the newly public rocket company. The position, disclosed in Alphabet's 13F filing, represents 551.2 million shares valued at $94.2 billion at SpaceX's June 30 price of $170.86. This is a massive unrealized gain for Alphabet, though the stake's value has since dipped to about $81.8 billion at Wednesday's price of $146.15. The disclosure highlights Alphabet's outsized exposure to SpaceX, which went public on June 12 at $135 and has seen volatile trading. For Alphabet, this stake is a significant asset on its balance sheet, but the 13F data is dated and does not reflect any post-June 30 transactions. SpaceX shares have risen 30% since August 5, and retail investors turned net sellers for the first time since the IPO last Friday.
At the time of this announcement, GOOG was trading at $344.95 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2T. The 52-week trading range was $197.46 to $404.47. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.