Goldman Sachs Backs SpaceX $2 Trillion IPO, Cuts Copper Forecast to $12,650
Goldman Sachs will join 20 other banks to underwrite SpaceX’s planned IPO, targeting a valuation above $2 trillion and allocating up to 30% of shares to retail investors at a June 11 event. The firm also trimmed its base-case copper forecast for this year to $12,650 a ton, warning that prolonged Strait of Hormuz disruptions could push prices lower.
1. GS Joins SpaceX IPO as Lead Underwriter
Goldman Sachs is one of 21 banks involved in SpaceX’s planned initial public offering, targeting a valuation above $2 trillion. The firm will take part in a roadshow beginning the week of June 8 and host a dedicated event for 1,500 retail investors on June 11, with up to 30% of shares earmarked for individual buyers.
2. GS Revises Copper Price Forecast
Goldman Sachs trimmed its base-case copper forecast for this year to $12,650 a ton from $12,850, citing downside risks from potential prolonged disruptions in the Strait of Hormuz. The bank warned that sustained flow interruptions could keep energy prices elevated, slow global growth and drive copper prices below current levels.