Who will Social Capital Hedosophia VI (NYSE:IPOF) merge with? Currently, there are a multitude of speculations to answer this question. On Stocktwits, message volume for the IPOF ticker has increased by 19%. Furthermore, several Stocktwits members are circulating rumors that Chamath Palihapitiya’s special purpose acquisition company (SPAC) may merge with SpaceX, although the validity of this claim is purely based on speculation. Last year, Palihapitiya helped take several companies public via SPAC, such as Clover Health (NASDAQ:CLOV) and Virgin Galactic (NYSE:SPCE).
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Will IPOF Stock Merge With SpaceX?
A SpaceX merger with IPOF stock would send shockwaves through the markets. What’s more, chatter on social media is factoring in Palihapitiya’s interest in space travel because of the Virgin Galactic SPAC merger. Adding more fuel to the flame is Palihapitiya’s announcement that he would be stepping down from the board of Virgin Galactic. As a result, investors are speculating that he stepped down to pursue a SpaceX merger.
However, this is highly unlikely. Knowing Elon Musk, it’s likely that he would favor an initial public offering (IPO) or direct listing. In addition, SpaceX has also raised more than $7.5 billion in funding rounds with investors that include the United States Space Force and Spectre. Until we hear confirmation from either side, the SpaceX speculation is most likely, well, just speculation.
Who’s Betting Big on IPOF?
According to WhaleWisdom, institutional investors own 67 million shares of IPOF stock, which was an increase of 12% compared to the previous quarter. As of Q4, a total of 121 funds owned the SPAC in their portfolios, which was a quarter-over-quarter increase of 2.5%. Here are the top five shareholders of IPOF common stock:
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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