From SpaceX to Small Drone Makers, the IPO Wave Meets Reality

Wall Street banks issued positive recommendations on SpaceX as the quiet period following its large initial public offering ended, with Morgan Stanley setting a 300-dollar price target on Elon Musk's rocket and AI company, the Financial Times reported. The recommendations reflect strong demand among public investors for the largest technology listings.

The situation is different at the other end of the market. In Israel, the autonomous-drone maker Kando Drones, backed by retail entrepreneur Rami Levy, completed a public offering at a valuation of 102 million shekels and raised 19 million shekels, Globes reported. The company, which shifted from flying-taxi ambitions to armed drones during the war, disclosed deepening losses and negative shareholder equity in its filings.

Together the two listings show how selective public markets have become. Prominent names draw price targets and demand, while smaller firms reach the market carrying losses, and investors are pricing that difference sharply.