SpaceX made a historic debut on the Nasdaq with its initial public offering (IPO) on June 13, 2026, marking the largest IPO ever with a trading volume exceeding 500 million shares and a first-day market capitalization surpassing $2.1 trillion [1]. The stock opened at $150 per share, nearly 20% above its telegraphed offering price of $135, and continued to climb in after-hours trading, reaching $166.85 by Friday evening [1]. During the trading session, SpaceX shares surged as much as 30% to a high of $176.52 before investors began to take profits, causing the price to retreat toward $158 in the afternoon. The stock ultimately closed at $160.95, with positive momentum persisting after the market closed [1].
Despite concerns about volatility due to a large retail allocation of up to 30%, trading was not especially volatile, and the stock's performance was described as a 'win-win for everybody concerned' by Paul Meeks, head of technology research at Freedom Capital Markets [1]. Dan Alpert, founder of Westwood Capital, noted that the high retail placement could lead to more selling if the stock reached $170 or $180, but also acknowledged that institutional placements typically provide more stability [1].
Wall Street analysts expressed some skepticism about SpaceX's ability to justify its massive valuation in the long term, focusing on the viability of its reusable Starship rocket, the monetization of AI, and the potential for generating free cash flows [1]. Notably, CFRA assigned a sell rating to SpaceX shortly after trading began [1]. Perpetual futures for the IPO had been priced around $162 on the Hyperliquid platform earlier in the week, and the closing price was close to that level [1].
CONCLUSION
SpaceX's IPO debut was met with strong investor enthusiasm, resulting in a record-setting first day and a market capitalization over $2.1 trillion. While the trading session saw some profit-taking and analyst caution regarding long-term valuation, the overall market reaction was highly positive, with the stock closing well above its offering price.