Wedbush analyst Dan Ives on Sunday called the public debut of Space Exploration Technologies Corp. (NASDAQ: SPCX) a definitive triumph for the technology sector, arguing that its successful pricing effectively clears the runway for impending artificial intelligence IPOs.

A ‘Goldilocks Outcome’ For Tech

In a market commentary shared by an X commentator and subsequently reposted by Ives, the prominent analyst addressed widespread investor anxieties that the space giant’s public listing would “suck oxygen out of the tech and AI trade.”

While acknowledging that recent weakness in chip stocks was tied to the IPO’s immediate ripple effect, Ives dismissed the pessimistic narrative following Friday’s opening bell.

"We view the IPO of SpaceX coming out of the gates on Friday as a ‘Goldilocks outcome’ for the tech sector as the reception of the pricing of SpaceX was solid and importantly the rest of the tech sector held up well,” Ives wrote. He added that the solid debut disproved weeks of “bear noise and fears.”

🚨 Dan Ives of Wedbush has released a new note on $SPCX SpaceX:"A major topic of conversation with ...