On June 5, ahead of the SpaceX IPO, we highlighted opportunity in the First Trust US Equity Opportunities ETF (FPX). At the time, it traded at around $185. Today, it’s up to $199.27 and could push even higher thanks to how hot the SPCX IPO is becoming.

With an expense ratio of 0.61%, the FPX tracks hot IPOs, giving investors access to new stocks during their initial, most crucial days on market. By buying it, not only can you avoid paying gobs of money for IPOs that may or may not work out, but you’re also being exposed to multiple hot IPOs at the same time at lesser cost.

What makes it even more attractive is that Elon Musk says the company’s revenue could eventually grow to about $1 trillion by 2030. If that were to happen, the company’s current $2.52 trillion market cap doesn’t seem so far from reality. “I would be surprised if revenue is not greater than $1 trillion in 2031,” added Musk, as quoted by Reuters.

Fueling more upside, SPCX just signed an agreement with Google to provide cloud services for $920 million a month over the next 32 months. It also signed an agreement with Anthropic “to rennet compute capacity at its Colossus data center for $1.2 billion per month over three years,” as reported by MarketWatch.com.

Sincerely,

Ian Cooper