The Globe and Mail reports in its Thursday edition that when shares of SpaceX start trading Friday, one Canadian investment company will book a paper return of more than 1,100 per cent. The Globe's Jameson Berkow writes that Stack Capital Group purchased $8-million worth of Space Exploration Technologies through a $5-million investment in October, 2021, and a $3-million follow-up in March, 2025 (all figures U.S.). Once SpaceX's stock debuts on Nasdaq, that position will be worth more than $100-million. But after holding for more than five years, Stack is not planning to sell any time soon. Jeff Parks, co-founder and chief executive officer of Stack, told The Globe: "Everyone is just so focused on what the stock is going to do on Day 1 or Day 5, but who cares about that? What is it going to do over the next five years? That is where I think there is so much value creation still to be had." The sheer size of SpaceX's initial public offering -- the rocket and artificial intelligence infrastructure maker aims to raise $75-billion at a $1.75-trillion valuation -- provides the most dramatic validation imaginable for Stack's business model. Stack also has sizable positions in other tech players, including OpenAI and Hopper.