The Zero-Share Subscription Disaster Is Over… Money Is Flooding In. Why Institutions Cannot Help but Buy SpaceX (Starlink) – REX Financial Asia Business Representative Oh Gi-seok

Summary

SpaceX's IPO left Korean retail investors with zero shares due to relationship-based US allocation and a tiny 5% free float. Guest Oh Gi-seok explains why passive index inclusion will create a massive supply squeeze in SpaceX stock, why Starlink's explosive subscriber growth and 40% margins make SpaceX an AI infrastructure giant, and how Blue Origin's accident solidifies SpaceX's monopoly. He also notes a potential dip-buying opportunity in other space stocks like RedWire and discusses the launch of leveraged ETFs on SpaceX.

• Korean retail investors received zero allocation in SpaceX's IPO because US IPO allocations favor existing deep relationships and large institutional investors.
• Index fund inclusion is expected to force 20–40 trillion KRW of passive buying into a very small float, creating strong short-term upside pressure on SpaceX shares.
• Starlink is adding nearly 1 million subscribers per month, generating high-margin recurring revenue and transforming SpaceX into an AI-infrastructure company.
• The acquisition of AI coding platform Cursor and plans for space-based data centers via Starship reinforce SpaceX's AI ambitions.
• Blue Origin's launch pad explosion eliminates it as a near-term competitor, leaving SpaceX as the sole viable supplier for US government contracts.
• Some investors are interpreting the post-listing dip in other space stocks like RedWire as a buying opportunity amid rotation into SpaceX.
• Leveraged ETFs on SpaceX (e.g., SBX) launched with heavy volume, offering short-term trading vehicles, though the guest warns they are unsuitable for long-term holdings.