Markets

IPOF shares closed today at 1.9% over its 52 week low

Social Capital Hedosophia Holdings Corp VI – Class A (IPOF) shares, the old Social Capital Hedosophia Holdings Corp V shut today at 1.9% over its 52 week low of $9.77, providing the company a market cap of $1B. The stock is currently down 2.7% year-to-date, down 36.2% over the past one year, and down 4.2% over the past 5 years. Today, the Dow Jones Industrial Average fell 0.1%, as well as the S&P 500 dropped 0.6%.

Trading Activity

Trading volume this week was 57.7% lower than the 20-day standard.
Beta, a step of the stock’s volatility relative to the overall market stands at 0.5.
Technical Indicators

The Family Member Toughness Index (RSI) on the stock was in between 30 and also 70.
MACD, a trend-following momentum indication, indicates a descending pattern.
The stock closed listed below its Bollinger band, showing it might be oversold.

Market Comparative Performance
The business’s share cost coincides as the S&P 500 Index, lags it on a 1-year basis, and lags it on a 5-year basis
The business’s share cost is the same as the Dow Jones Industrial Average, lags it on a 1-year basis, and lags it on a 5-year basis

Per Group Relative Performance
The company’s stock rate efficiency year-to-date delays the peer ordinary by -195.4%.
The company’s stock rate performance over the past one year delays the peer average by -377.7%.

IPOF Stock Boosted by SpaceX SPAC Merging Rumor.
By Kirsteen Mackay.

February 23rd, 2022.
Share:.
The report mill is in overdrive as investors enjoy the thought of a SpaceX IPO.

Social Capital Hedosophia VI (NYSE: IPOF) goes through the most up to date round of SpaceX IPO rumors. Social Capital Hedosophia Holdings takes exclusive business public by means of its unique objective procurement business (SPACs), focusing on cutting-edge and also agile innovation business.

Chamath Palihapitiya’s SPACs were hot property in 2020 yet befalled of favor last year. Some notable Social Capital SPACs consist of Clover Wellness (NASDAQ: CLOV), Opendoor (NASDAQ: OPEN), SoFi (NASDAQ: SOFI), and Virgin Galactic (NYSE: SPCE).

Dumping Virgin Galactic for SpaceX?
Palihapitiya abruptly stepped down from Virgin Galactic’s company board recently, fuelling the rumors SpaceX could be a Social Capital target. With Richard Branson accountable of Virgin Galactic and also Elon Musk directing SpaceX, the two firms are opponents. So, Palihapitiya’s participation in both may present a problem of interest.

Whether IPOF stock will combine with SpaceX is totally speculative, as well as nothing has been confirmed. There are lots of various other opportunities and also various other IPOF target rumors in the financier chat rooms.

IPOF stock has risen 2.6% in the past five days and is up once again pre-market, hovering around the $10.30 mark. SPAC stocks have a tendency to hover around $10 until their merging target has been named.

SpaceX is the 20-year-old NASA competitor intent on delivering humans to Mars. It’s additionally championing worldwide satellite broadband coverage and also lunar landers.

Being an Elon Musk company, SpaceX has actually amassed a cult following, and its development is very closely complied with on social media. It’s for that reason sure to be a hotly-tipped IPO when it happens.

However, the different sight is that Musk would certainly favor to take SpaceX public using IPO or straight listing over the debatable SPAC course.