{"id":652298,"date":"2026-06-22T14:35:10","date_gmt":"2026-06-22T14:35:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/652298\/"},"modified":"2026-06-22T14:35:10","modified_gmt":"2026-06-22T14:35:10","slug":"why-blackrocks-blk-5-billion-spacex-move-is-turning-heads-across-wall-street","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/652298\/","title":{"rendered":"Why BlackRock\u2019s (BLK) $5 Billion SpaceX Move Is Turning Heads Across Wall Street"},"content":{"rendered":"\n

With a short percentage of shares outstanding of 1.30%, BlackRock, Inc.\u00a0(NYSE:BLK<\/a>)\u00a0is among the 7 Best Crypto Exchange Stocks to Buy Following Bitcoin\u2019s Recovery<\/a>.<\/p>\n

On June 11,\u00a0BlackRock, Inc. (NYSE:BLK)\u00a0reportedly placed\u00a0an order to\u00a0purchase\u00a0at least\u00a0$5 billion\u00a0worth of shares in SpaceX, according to The Wall Street Journal. The strong interest comes amid exceptionally high demand for the private aerospace company\u2019s shares, with individual investors requesting more than\u00a0$70 billion\u00a0in aggregate and significant participation from sovereign wealth funds and family offices. BlackRock\u2019s substantial commitment highlights the firm\u2019s ability to access sought-after private market opportunities and reflects its continued focus on expanding investment offerings across both public and private asset classes.<\/p>\n

\"\" <\/p>\n

On June 8, Evercore ISI lowered the firm\u2019s price target on\u00a0BlackRock, Inc. (NYSE:BLK)\u00a0to $1,140 from $1,220 while\u00a0maintaining\u00a0an Outperform rating on the shares. Despite the reduced target, the continued Outperform rating signals confidence in BlackRock\u2019s long-term earnings power, market position, and ability to generate value for shareholders.<\/p>\n

Founded in 1988 and headquartered in New York City,\u00a0BlackRock, Inc. (NYSE:BLK)\u00a0provides global investment, advisory, and risk management solutions. It also manages digital asset portfolios and is the sponsor of the\u00a0Bitcoin exchange-traded fund, iShares Bitcoin Trust ETF (IBIT), allowing\u00a0investors to gain exposure to Bitcoin without managing the underlying crypto directly.<\/p>\n

While we acknowledge the potential of BLK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the\u00a0best short-term AI stock<\/a>.<\/p>\n

READ NEXT: 10 Most Overvalued Quantum Computing Stocks According to Short Sellers<\/a>\u00a0and 7 Best Pet Care Stocks to Buy for Consistent Recurring Revenue<\/a>.<\/p>\n

Disclosure: None. \u00a0Follow Insider Monkey on Google News<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"With a short percentage of shares outstanding of 1.30%, BlackRock, Inc.\u00a0(NYSE:BLK)\u00a0is among the 7 Best Crypto Exchange Stocks…\n","protected":false},"author":2,"featured_media":652299,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[11084,194609,90,219392,416,412,33967,56,54,55],"class_list":["post-652298","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-blackrock","tag-market-opportunities","tag-science","tag-shares-outstanding","tag-space","tag-spacex","tag-the-wall-street-journal","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/652298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=652298"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/652298\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/652299"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=652298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=652298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=652298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}