Rocket Lab Corp.
"What's going to happen is the good companies are going to get dragged up by SpaceX," Spice said, referring to the SpaceX IPO. "And I think the less quality names are going to get basically put into obscurity."
SpaceX, led by Elon Musk, is reportedly weighing a mid-2026 IPO that could value the company at roughly $1.5 trillion.
Spice argued that SpaceX entering public markets would not lift all space-related stocks equally.
Instead, he said it would likely create a market of "haves and have nots," where investors reward companies with real space infrastructure, recurring contracts, launch capability, manufacturing depth and credible growth paths.
That could benefit Rocket Lab, which has positioned itself as one of the few publicly traded end-to-end space companies, spanning launch services, spacecraft manufacturing and space systems.
The company competes in a market where investor enthusiasm has often spread broadly across small-cap space names, regardless of balance sheet quality, revenue durability or operational scale.
'Lack of Any Discrimination Amongst Investors'
Spice said that the lack of discrimination may not survive a SpaceX listing.
"What I've seen is a complete or almost complete lack of any discrimination amongst investors across the names that have currently been in space," he said.
A SpaceX IPO would give public investors a direct benchmark for the sector's leader, potentially reshaping how Wall Street values the rest of the space economy.
Companies with meaningful revenue, proven execution and defensible technology could see renewed attention. Weaker names, especially those relying on promotional narratives or distant commercialization timelines, could face tougher scrutiny.
SpaceX going public may expand investor interest in the sector, but it may also raise the bar. The rising tide may not lift every rocket.
Stocks To Watch
In addition to Rocket Lab, here are some space stocks popular amongst retail investors that should be monitored as SpaceX prepares to enter the public market:
