Space Exploration Technologies Corp‘s (NASDAQ: SPCX) recent initial public offering marked a major milestone for the private space industry.
In the aftermath, Triller Group Inc (NASDAQ: ILLR) saw its shares skyrocket after it disclosed a major investment in SpaceX as part of its treasury strategy. The stock closed nearly 300 per cent higher Thursday, with reports citing intraday gains over 400 per cent.
Through a wholly-owned subsidiary, Triller secured exposure to approximately 3.9 million SpaceX Class A shares via a fund structure for about US$411 million at a price around US$105 per share, which is well below recent market levels. Triller plans to keep these SpaceX shares as a strategic treasury asset after financing the purchase with loans backed by the shares themselves.
This move comes as SpaceX shares have shown volatility post-IPO. On Monday, the stock tumbled 16.4 per cent in a single session, erasing much of its early gains. The SpaceX IPO has attracted investors seeking stakes in a firm with established launch capabilities, Starlink’s global connectivity ambitions and potential in commercial spaceflight.
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Rally follows financial challenges
The rally is a stark contrast to Triller’s recent history. Just days before the SpaceX disclosure, the company executed a 1-for-10 reverse stock split to regain compliance with Nasdaq’s minimum bid price.
The company has faced extended financial and operational difficulties, including delayed SEC filings that led to trading suspensions, delisting threats and periods off the exchange in late 2025 and into 2026. It has also reported significant net losses.
Market observers note the timing of the high-profile SpaceX disclosure, with some commentary viewing it as a potential narrative boost for a company addressing historical issues. Triller has countered by saying that the reverse split is not the core story behind the rally.
“What matters is market capitalisation, balance-sheet strength, execution and long-term shareholder value,” said CEO Wing-Fai Ng in a statement to shareholders on Jun. 25, “and that is where we are focused.”
Triller is known for bare knuckle fighting
Triller Group operates as a diverse tech, media and financial services company. Its flagship Triller app is an AI-driven short-form video platform focused on music integration, creator tools and content distribution.
The group also runs TrillerTV for live events and combat sports, including Triller Fight Club and Bare Knuckle Fighting Championship.
In the competitive entertainment sector, Triller contends with dominant players such as ByteDance’s TikTok, Meta Platforms Inc‘s (NASDAQ: META) Instagram Reels and YouTube Shorts. Its efforts to combine social video, live sports and financial services aim to create multiple revenue streams, though it operates at a smaller scale than these rivals amid ongoing profitability issues.
The SpaceX treasury position adds a new dimension to Triller’s strategy, linking a small-cap entertainment-technology firm to one of the highest-profile public debuts in recent years.
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