The SpaceX IPO Could Spark a "Risk-On" Rally: Here Are 2 Stocks That Could Benefit

SpaceX's IPO is gearing up to be an important moment for the broader market.

Micron stock has been on an incredible run, and a successful public debut for SpaceX could help send its share price higher.

SpaceX's IPO will likely create valuation ripple effects for other space tech stocks, and Rocket Lab could benefit if the IPO is a hit.

SpaceX is set to have its initial public offering ( IPO ) on June 12, and the company's public debut is set to be a big test for the market. The company recently announced it had lowered its target valuation by roughly $200 billion, but it is still planning to sell its first batch of stock at a price that would value the space tech specialist at roughly $1.77 trillion.

If SpaceX stock falters and sees big sell-offs upon its public debut, it could have bearish ripples for the broader market in the near term. On the other hand, a strong start for SpaceX could be a sign that investors' appetite for growth stocks remains strong, triggering a renewed risk-on rally.

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With that in mind, read on for a look at two stocks that could be big winners if a strong public debut for SpaceX helps support bullish momentum for the broader market.

Micron (NASDAQ: MU) has been a huge winner over the last year and has emerged as a pivotal stock in the artificial intelligence (AI) trade, shaping the broader market. The company's share price is up 898% over the last 12 months, and some Wall Street analysts are betting that it will keep marching higher.