SpaceX IPO Sparks 'MANGOS' Buzz, Challenging the 'Magnificent Seven' Title

(CNA, New York, 14th -综合 international news) SpaceX, Elon Musk's space exploration technology company, went public on the U.S. stock market on the 12th, with its market capitalization instantly surpassing $2 trillion—higher than two of the current 'Magnificent Seven' U.S. tech giants—sparking investor debates over whether the 'Magnificent Seven' label still holds and what it should be renamed.

According to Reuters, the term 'Magnificent Seven' was coined by Michael Hartnett, Chief Investment Strategist at Bank of America’s Global Research division, at the end of 2023. It refers to seven heavyweight U.S. tech-related stocks: Apple, Alphabet (Google’s parent), Microsoft, Amazon, Meta (Facebook’s parent), Nvidia, and Tesla, Elon Musk’s electric vehicle giant.

SpaceX’s initial public offering (IPO) this week marked the largest in U.S. history, with its market cap immediately surpassing both Tesla and Meta. Shay Boloor, Chief Market Strategist at Futurum Equities, said this makes it difficult to continue referring to the market leaders as the 'Magnificent Seven,' as it 'excludes one of the world’s most important companies.'

Analysts also point out that with major AI chatbot developers OpenAI and Anthropic preparing for IPOs and aiming to join the trillion-dollar market cap club, the name for the group of U.S. market leaders may soon need to change again.

Creative suggestions are already circulating online. On the social media platform X, a popular proposal is 'MANGOS,' with one interpretation standing for Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX. Another version suggests the 'A' represents Apple, currently the third-largest company by market cap in the U.S.

Dan Boardman-Weston, CEO of UK-based asset management firm BRI Wealth Management, proposed the term 'Magna Atoms,' meaning the original seven plus SpaceX, OpenAI, and Anthropic.

In fact, such labels have evolved multiple times before. Prior to the 'Magnificent Seven,' there was 'FANG,' referring to Facebook, Amazon, Netflix, and Google; later, Apple was added to form 'FAANG.' Each shift reflects changes in which stocks lead the U.S. market in different eras. (Translation: Chang Cheng-chien) 1150614