To Infinity And Beyond?

The lending market treated SpaceX less like a conventional new issue and more like the sector’s central risk-transfer vehicle. Securities lending can support directional activity, market-making, options hedging, index flows, settlement management, relative-value trades, and a number of other investment strategies. York Space Systems and Starfighters Space generated lending revenue that looked large relative to the amount of stock on loan, suggesting that borrow demand was meeting a much thinner pool of available inventory.

Following SpaceX’s landmark IPO, the space sector has attracted growing interest in the securities-lending market. SpaceX’s ( SPCX ) June flotation did more than bring a new public company to market; it gave investors a single, highly visible