SpaceX IPO Soars 19% to $161 on Record $75B Debut, June 13

SpaceX made its Nasdaq debut on June 12 under the ticker SPCX, raising $75 billion in the largest IPO ever. The stock opened at $150 and closed at $160.95, up 19% from the $135 offer price, valuing the company at $2.1 trillion. The blockbuster debut made founder Elon Musk the world’s first trillionaire, with his net worth reaching $1.1 trillion based on his combined stakes in SpaceX and Tesla.

Record-Breaking First Day

SPCX opened at $150 per share on Friday and reached a high of $176.52 before closing at $160.95. More than 500 million shares traded hands, approaching Facebook’s 2012 IPO volume of 580 million shares. The company sold 555.6 million shares at the $135 offer price, raising $75 billion and immediately valuing SpaceX at $1.77 trillion. Extended trading added another $100 billion to the market cap, pushing the final valuation to $2.1 trillion.

Musk’s Path to Trillionaire Status

Musk’s 42% ownership stake in SpaceX gave him voting control and massive wealth gains on the first trading day. His net worth jumped from $795 billion on Thursday to $1.1 trillion by Friday’s close, according to the Bloomberg rich list. He also holds stakes in Tesla, valued at $1.5 trillion, which rose 1.8% to $406.43 on Friday. Musk cannot sell SpaceX shares for one year under lock-up agreements, but his voting control remains north of 82%.

Why Investors Are Betting on SpaceX

Musk said SpaceX has been cash-flow positive since 2015 and wants to use IPO proceeds for a significant growth phase. Plans include putting over 100,000 satellites in orbit for communications and building AI data centers in space. SpaceX acquired Musk’s xAI startup in February 2026, bringing data centers, Grok AI models, and the social network X into the company. However, SpaceX has accumulated $41.3 billion in losses since its 2002 founding, with Starlink satellite internet as the only currently profitable division.

What the Data Shows for Investors

Meyka rates SPCX a B with a 12-month forecast of $22.51, suggesting the stock is trading well above fundamental value at $160.95. The RSI sits at 99.77, indicating extreme overbought conditions, while the CCI at 185.89 signals the same. Analysts show mixed sentiment with 3 Buy ratings and 1 Sell rating. Investment banks took home $500 million in fees, with Goldman Sachs and Morgan Stanley each receiving $100 million. The IPO was oversubscribed four times over, with 70% of institutional allocations going to long-only investors and sovereign wealth funds from Saudi Arabia and Kuwait.

Final Thoughts

SPCX closed its debut at $160.95, up 19% from the $135 offer price, but Meyka’s B rating and $22.51 forecast suggest limited upside from current levels. The extreme overbought technical readings (RSI 99.77, CCI 185.89) point to significant pullback risk after the opening-day euphoria fades.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.