SpaceX (SPCX) makes historic Nasdaq Debut

TLE DESK: SpaceX, Elon Musk’s space exploration and technology giant, soared in its record-breaking initial public offering on Friday, June 12, 2026. Trading under the ticker SPCX, the company closed at approximately $160.95, marking a 19% jump from its IPO price of $135. This debut propelled SpaceX to a market valuation of around $2.1 trillion, with further gains in after-hours trading pushing it toward $2.2 trillion.

SpaceX opened at $150, above the $135 IPO price, and reached an intraday high of $176.52. More than 500 million shares changed hands, rivaling historic debuts like Facebook’s in 2012. In post-market activity, shares climbed an additional ~3.5% to around $166.85. The IPO raised $75 billion, the largest in history. Elon Musk and SpaceX President & COO Gwynne Shotwell marked the occasion by ringing the opening bell, with Musk joining from Texas and Shotwell from Nasdaq in New York.

SpaceX has been cash-flow positive since around 2015, with Starlink as its primary profitable segment. The company reported $18.7 billion in revenue last year but posted significant losses of $4.9 billion in the most recent year and cumulative losses of $41.3 billion since 2002. Musk highlighted ambitions for massive growth, including deploying over 100,000 satellites for communications and building AI data centers in space. SpaceX acquired xAI in February 2026, integrating AI capabilities, Grok models, and the X platform.

Retail interest was record-breaking, with Citadel Securities reporting the highest-ever IPO auction activity among individual investors. SpaceX was the most-bought stock by individuals on Friday. However, analysts expressed skepticism on the valuation, with Keith Snyder of CFRA issuing a “sell” rating and a $115 price target, calling the valuation challenging despite strong growth expectations in AI and space. The debut minted Musk as the world’s first trillionaire and sparked discussions about potential IPOs for OpenAI and Anthropic.

Musk described the IPO as enabling a “significant growth phase.” Former Nasdaq chief Robert Greifeld predicted more tech IPOs following SpaceX. Political reactions included calls for taxing the rich from figures like NYC Mayor Zohran Mamdani and Sen. Elizabeth Warren. Tesla shares rose modestly in sympathy, closing at $406.43.

Sources: Primary coverage from CNBC live updates (June 12, 2026), along with reports from Reuters, Yahoo Finance, Bloomberg, and other market outlets.