SpaceX Stock Surges 19% on Record $75B IPO Debut, June 12

SpaceX priced its IPO at $135 per share on June 11, raising a record $75 billion. Shares opened at $150 on June 12 and closed at $161.11 USD, up 19.34% on the first day of trading. The company is now valued at $2.1 trillion USD, making it the sixth-largest publicly traded company in the United States. Elon Musk’s combined stakes in SpaceX and Tesla pushed him past $1 trillion in net worth, making him the world’s first trillionaire.

Record-Breaking IPO Performance

SPCX opened at $150 and climbed to a high of $176.52 during the trading day. More than 500 million shares traded hands, approaching Facebook’s 2012 debut volume of 580 million shares. The stock pared some gains heading into the close but finished at $161.11 USD, delivering a 19.34% gain from the IPO price of $135. Analysts called the debut a success, citing healthy gains, limited volatility, and record retail investor demand.

Why SpaceX Went Public Now

Musk said SpaceX had been cash-flow positive since around 2015. He took the company public to raise capital for a significant growth phase, including plans to put over 100,000 satellites in orbit for communications and build artificial intelligence data centers in space. The company acquired Musk’s startup xAI in February 2026, bringing data centers, Grok AI models, and the social network X into the SpaceX fold. Despite the massive valuation, SpaceX has accumulated a total loss of $41.3 billion since its founding in 2002.

Market Position and Valuation Questions

At the closing price of $161.11 USD, SpaceX’s market cap reached $2.1 trillion USD. The company ranks sixth among US-listed firms by market value, ahead of JPMorgan Chase, Berkshire Hathaway, Meta Platforms, and Musk’s own Tesla. However, analysts raised concerns about valuation, with some calling the $28.5 trillion total addressable market a hallucination. Meyka rates SPCX a D+ with a Strong Sell recommendation, citing weak fundamentals across profitability, return on equity, and return on assets metrics.

Starlink Remains the Profit Engine

Musk acknowledged that Starlink, the satellite internet division, is the only currently profitable part of SpaceX. The company’s core rocket business has not yet turned profitable. Banks earned $500 million in fees on the record IPO. Retail investors gained access through Charles Schwab, Fidelity, Robinhood, SoFi Technologies, and Morgan Stanley’s E*Trade, with Fidelity lowering its IPO account minimum from $100,000 to $2,000.

Final Thoughts

SpaceX’s record IPO delivered strong first-day gains, but Meyka’s D+ rating and negative fundamentals signal caution. The $2.1 trillion valuation rests heavily on future growth promises rather than current profitability.

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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.