By Adriano Marchese
Stack Capital Group, which owned a small stake in SpaceX before it went public, traded lower even as the rocket maker's newly listed shares surged Friday.
Shares of Stack were 15% lower Friday at 25.02 Canadian dollars.
The small Canadian investment firm disclosed its SpaceX position in prior filings, including an additional $3 million in the second quarter of 2025 when the company's valuation was around $400 billion. The company invested a total of $8 million into SpaceX.
SpaceX on Friday launched its initial public offering, with the stock surging over 28% to $172.85, propelling its market capitalization to nearly $1.94 trillion--and bringing Stack Capital's stake along with it.
Stack's portfolio includes several other holdings. As of its first quarter, the firm reported in May a book value totaling C$227 million, with holdings in OpenAI, the artificial-intelligence company behind ChatGPT, as well as AI-focused data-center and energy infrastructure company Crusoe Energy, X-Energy, a nuclear-energy company, and tech-travel platform Hopper, according to its filings.
Stack's shares have risen firmly over the course of 2026, up about 62% year to date inclusive of Friday's decline. The stock has doubled over the last 52 weeks.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
June 12, 2026 14:35 ET (18:35 GMT)
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