IT News on October 29th: According to Bloomberg, Elon Musk has a particular fondness for the letter "X." One of Tesla's earliest models was the Model X; Space Exploration Technologies Corporation (Space Exploration Technologies Corp) is commonly referred to as SpaceX; after acquiring Twitter in 2022, he directly renamed the social media platform to X. He even named his son X Æ A-Xii, and often calls him "Little X" online.
Today, this world's richest man is exploring the possibility of merging two of his listed companies, and there happens to be an opportunity in the market: the US stock code "X" is currently idle, having become available last year following the acquisition of the American steel company. Whether Musk will apply to obtain this code, and whether the merger between Tesla and SpaceX will actually happen, remains uncertain. However, investors and analysts have noticed this timing and feel that it is just right.
Roundhill Dave Mazza, the CEO of the investment company, stated: "There is still a long way to go with this merger, but if it is ultimately completed and the X code reappears on the market, there is no need for anyone to be surprised. This is in complete alignment with the brand positioning."
Elon Musk also serves as the CEO of Tesla and SpaceX. Last week, he announced that special committees from both companies are discussing a merger, a matter that investors and analysts have been speculating about for months prior to that. At this stage, the potential terms, structure, and timing of the transaction are still just speculations on Wall Street.
IT has noticed that Musk has not publicly stated his desire for this stock code, but as is well known, he places a special emphasis on certain numbers and symbols. The numbers 420, 69, and the poop emoji can be seen throughout his online traces, as well as the letter X. His connection with the letter X dates back to the internet bubble era: Musk founded a digital finance company X.com back then, which later became part of PayPal.
Single-letter US stock codes are extremely scarce. Among the 26 English letters, only the codes corresponding to the letters I, K, N, X, and Y have not yet been assigned.
It is not uncommon for stock codes to be changed and transferred. The code currently used by SpaceX is SPCX. Before April this year, it belonged to SPAC, a fund listed on NASDAQ under Tuttle Capital Management.
Investors believe that Musk has every reason to change the name and stock code of the new group formed by the merger of Tesla and SpaceX. Both companies are highly recognizable, but Musk's ambitious vision, ranging from chatbots and autonomous vehicles to orbital data centers, has surpassed what existing names can convey.
Karobaar Capital Chief Investment Officer Harris Kursheed said, "When it comes to Tesla, people's first thought is still cars; when it comes to SpaceX, people think of rockets. Neither of these two names can encompass the grand vision he wants to bring together."
If the merger goes smoothly, Musk is expected to choose a new name for the company, and the market generally speculates that he will opt for "X." Max Gokman, Senior Vice President of Investment Solutions at Franklin Templeton, said, "X is very likely to be the final choice; it's simply the most in line with Musk's style."
