Monetary Matters with Jack Farley SpaceX IPO: Why This Hedge Fund Manager is Fading the Hype | Moez Kassam
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Apr 30, 2026 
Moez Kassam, CIO of Anson Funds and contrarian investor, offers a sharp take on hype-driven markets. He dissects SpaceX IPO mechanics, low-float dynamics, and index inclusion trades. He flags weak “me-too” space names, weighs AI vs. quantum realism, and spots activist and cash-flow opportunities in software. He also outlines bullish catalysts for U.S. cannabis and attraction to high-yield private credit.
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SpaceX IPO Mechanics Will Drive Price Not Hype
- SpaceX IPO mechanics matter more than headlines because lockups, float size, and underwriter decisions will determine supply and demand.
- Moez warns rumors of early unlocks could turn the IPO into a direct-listing dynamic and flood supply despite a large market cap.
Sell Before The Index Rebalance
- Time your trade around index inclusion: buy the rumor, sell before the rebalance window when ETFs must weight the new stock.
- Moez suggests selling on day nine because day ten is when rebalances execute and demand is largely priced.
Fade The Me-Too Space Stocks
- Target the 'me-too' companies rather than the dominant player when fading hype because they lack R&D, scale, and anchor investors.
- Moez says many space-related stocks rallied 5X–15X on retail speculation without cornerstone holders.