Market News: xStock Underlying Supply Chain Issues, SpaceX Facing Stockouts

On June 12, Nasdaq announced that SpaceX’s stock trading won’t kick off for several hours. The exchange’s president noted that extra time is needed to ensure the IPO proceeds are managed in an orderly fashion and to finalize the correct share price.

June 12 — Per public disclosures, SpaceX’s first post-IPO trade will go live hours after the U.S. stock market opens. SPCX is currently in the order matching and price discovery phase — a key reason why Nasdaq’s indicative opening price for SPCX has fallen from a peak of $175 to $162, a level that remains volatile as order matching continues. Historical patterns show that large-scale IPOs typically start trading after 12:00 PM Eastern Time.

June 12 update: Bitget Wallet has announced that unforeseen market factors have disrupted the planned distribution of SpaceX’s tokenized IPO shares to users. Starting tonight, the platform will issue full refunds in USDT to Solana addresses registered during the original subscription period, covering both subscribers’ principal amounts plus a 5% fee. Bitget Wallet also noted it will continue expanding its tokenized stock IPO business. All users who took part in this subscription will be automatically added to a whitelist for priority access to future tokenized IPOs. As additional compensation, the platform will airdrop GetGas worth 10 USDT to each participating address—this balance can be used to offset gas fees for stock trading over the next month.

On June 12, per market sources, SpaceX’s opening price dropped from a high of $175 to $155.

June 12. Donald Trump had been counting on this weekend as a pivotal political win: The World Cup returns to the U.S. on Friday for the first time in 32 years, a UFC boxing match on Sunday aligns with his 80th birthday—with thousands of guests expected at the White House—and he’s set to travel to the G7 Summit in France afterward. His Thursday announcement of a potential “final war agreement” between the U.S. and Iran by the weekend sent market expectations soaring to a fever pitch. On Friday, Iran’s semi-official Mehr News Agency published a detailed draft of a 14-point memorandum of understanding (MOU) between the two countries; Trump later refuted the draft in a public social media post. Ali Vaez, Iran Project Director at the International Crisis Group, analyzed that Trump’s tough rhetoric on Iran is aimed at appeasing domestic hardliners, while his true priority is securing a “victorious exit” from tensions with Tehran. Vaez also revealed that behind the scenes, mediation

June 12: SpaceX’s opening price dropped from a high of $175 to $162, per market sources.