NurPhoto/NurPhoto via Getty Images
Live
Updated 25 mins ago
SpaceX IPO live updates: Record-setting IPO prices at $135 a share
SaveSaved
We have liftoff.
SpaceX priced 555.6 million shares in its hugely anticipated IPO at $135 each late Thursday, making history as the largest public offering of all time.
The record-setting deal raised $75 billion for Elon Musk's rocket company and awarded it a valuation of about $1.75 trillion, as was expected in the weeks leading up to pricing. The final offering immediately launched SpaceX into the ranks of the most valuable companies on Earth.
SpaceX will start trading on the Nasdaq on Friday under the ticker SPCX.
Newsletter anchors Dan DeFrancesco (BI Today) and Joe Ciolli (First Trade) will be doing a live Q&A about the SpaceX offering as trading kicks off on Friday, June 12. Watch here at 12:30 p.m. ET.
See more less
24 mins ago
Copied!
Jim Cramer warns SpaceX could surge too far, too fast after IPO
CNBC's Jim Cramer warned investors to stay cautious ahead of SpaceX's market debut, saying there's a "real risk" the stock could soar well beyond its IPO price. On Thursday's "Mad Money," Cramer said intense demand could push SpaceX to an unsustainable valuation, warning that "an unprofitable company could end up being the biggest stock on earth."
Cramer also flagged broader market risks tied to the offering, noting that SpaceX's IPO settlement, quarterly tax payments, and Treasury settlements all fall on Monday, potentially creating a liquidity crunch ahead of next week's Federal Reserve meeting.
1 hour ago
Copied!
Megabull Dan Ives says IPO marks 'inflection point' for space and AI
Wedbush analyst Dan Ives called SpaceX's IPO a key moment for the space industry and AI trade. He said the IPO has already affected tech trading as investors sell other stocks to make room for SpaceX shares, with institutional interest being particularly strong, pointing to large orders from BlackRock and sovereign wealth funds.
Looking beyond the IPO, Ives reiterated his view that SpaceX and Tesla could eventually merge, assigning an "80%+" probability to a combination of Musk's companies by 2027.
Wedbush analyst Dan Ives called SpaceX's IPO a key moment for the space industry and AI trade. He said the IPO has already affected tech trading as investors sell other stocks to make room for SpaceX shares, with institutional interest being particularly strong, pointing to large orders from BlackRock and sovereign wealth funds.
Looking beyond the IPO, Ives reiterated his view that SpaceX and Tesla could eventually merge, assigning an "80%+" probability to a combination of Musk's companies by 2027.
" Musk wants to own and control more of the AI ecosystem and step by step the holy grail could be combining SpaceX and Tesla in some way to give the connected tissue between both disruptive tech stalwarts looking to lead the AI Revolution in this next tech chapter for the market."
See more less
1 hour ago
Copied!
Activists unveiled a giant inflatable Musk in Times Square
Roselle Chen/Roselle Chen
A giant inflatable Elon Musk appeared in Times Square on Thursday ahead of SpaceX's market debut, as activists sought to draw attention to concerns about Grok — the AI chatbot owned by SpaceX through its acquisition of xAI.
The immense effigy was organized by the coalition Safe AI Now, which argues that Grok's past controversies could expose investors to legal and regulatory risks. Musk dismissed the allegations as "totally false."
2 hours ago
Copied!
Morningstar sounds the alarm
Illustration by Timon Schneider/SOPA Images/LightRocket via Getty Images
Morningstar wasn't shy about its skepticism on SpaceX before Thursday's debut, saying it should be valued around 50% below its IPO valuation.
The firm gave SpaceX a 7% chance of capturing a "moonshot" 21% share of the global compute market through its plan to launch AI data centers into space. The most likely scenario, the firm said, is that it captures around 4% of global market share.
Morningstar wasn't shy about its skepticism on SpaceX before Thursday's debut, saying it should be valued around 50% below its IPO valuation.
The firm gave SpaceX a 7% chance of capturing a "moonshot" 21% share of the global compute market through its plan to launch AI data centers into space. The most likely scenario, the firm said, is that it captures around 4% of global market share.
"Even giving SpaceX the benefit of the doubt in several key forecasts, only the most optimistic 'moonshot' scenario approaches the IPO offering price," the firm wrote earlier this week.
Morningstar's Nicolas Owens and Suryansh Sharma say long-term investors would be better off waiting to buy the stock.
"In the months following the IPO, when successive tranches of stock held by private investors and employees are slated for sale into the public market, selling pressure may weigh on the shares," the analysts wrote.
See more less
2 hours ago
Copied!
A cautionary stat on IPO performance
Here's a data-driven answer from Andy VandenBerg, founder of VDB Wealth, who shared an eye-popping stat on average drawdowns after IPOs.
"If you look at the last 30 major tech IPOs, 57% traded up over the first week. However, the max drawdown in the first year averaged 55%," he said. "So, if you're really bullish on the company and its long-term prospects, I advise clients that there will likely be a more attractive opportunity to invest in the business."
2 hours ago
Copied!
Should you buy the IPO?
In the weeks before the IPO, we asked investing pros whether they'd buy the SpaceX IPO on day one.
A couple of them, including Altug Dincturk, the chief investment officer at Madison Partners, gave data-driven answers as to why they'd stay away. Historically, stocks have suffered in the months following their IPOs.
In the weeks before the IPO, we asked investing pros whether they'd buy the SpaceX IPO on day one.
A couple of them, including Altug Dincturk, the chief investment officer at Madison Partners, gave data-driven answers as to why they'd stay away. Historically, stocks have suffered in the months following their IPOs.
While University of Florida data from 1980-2024 shows an average gain of 19% on the first day of trading after an IPO, Nasdaq data from 2010-2020 shows that 64% of stocks underperform the market by at least 10% over the three years following their IPO. Around half post negative absolute returns in their first 12 months.
"High-profile names are often the worst offenders. Look at 2025 alone: StubHub debuted 8% above its IPO price on day one and has since fallen 40%," Dincturk told Business Insider. "CoreWeave opened below its offer price but is up 78% for patient investors who weren't scared off by the first-day dip. The lesson isn't 'don't buy SpaceX.' The lesson is: the opening bell is the worst time to decide."
Dincturk said his firm will wait for the dust to settle after the IPO to decide whether to buy.
See more less
3 hours ago
Copied!
Antonio Gracias could be the second-biggest winner in the IPO
Bloomberg/Bloomberg via Getty Images
After Elon Musk, Antonio Gracias, one of Musk's closest confidants and an early SpaceX investor, could be the second biggest winner in the IPO.
Gracias owns more than 500 million shares of SpaceX stock through investment firms affiliated with Valor Equity Partners, the private equity firm he founded, which represent roughly 7.3% of SpaceX's Class A stock. That stake could be worth north of $90 billion.
After Elon Musk, Antonio Gracias, one of Musk's closest confidants and an early SpaceX investor, could be the second biggest winner in the IPO.
Gracias owns more than 500 million shares of SpaceX stock through investment firms affiliated with Valor Equity Partners, the private equity firm he founded, which represent roughly 7.3% of SpaceX's Class A stock. That stake could be worth north of $90 billion.
That gain is one of the largest fortunes ever created by a venture investor, though it is unclear how much Gracias personally invested.
After the S-1 was released, Gracias posted on X: "While I'm a large partner in the funds, the majority of the gains go to our LPs. We're deeply grateful for their belief in us and SpaceX beginning with our first investment in 2006."
See more less
3 hours ago
Copied!
Will the SpaceX IPO be Southern California's "Google Moment?"
Real estate agents and developers in Southern California have been eagerly anticipating this day, bracing for a potential influx of newly wealthy buyers.
After SpaceX shifted its headquarters to Texas in 2024, its Hawthorne manufacturing hub remained a major local employer, with 7,661 workers last year, according to city records.
Real estate agents and developers in Southern California have been eagerly anticipating this day, bracing for a potential influx of newly wealthy buyers.
After SpaceX shifted its headquarters to Texas in 2024, its Hawthorne manufacturing hub remained a major local employer, with 7,661 workers last year, according to city records.
"This is LA's Google moment," Chris Tourtellotte, managing director at LaTerra Development, a Los Angeles real estate investment management and development company, told Business Insider, referring to Google's 2004 IPO that is estimated to have minted over 900 millionaires. "All of a sudden, you will wake up, and there will be thousands of brand-new millionaires."
Agents say Manhattan Beach will likely benefit the most, and prices will spike after lock-up periods end in the fall.
Austin is also hoping for a boost from Space's IPO, with 1,590 employees working in nearby Bastrop County.
See more less
4 hours ago
Copied!
Retail traders have been piling up cash ahead of SpaceX and other giant IPOs
Michael Yanow/NurPhoto via Getty Images
Data shows that retail traders were net sellers of stocks for three days in a row this week, the first time since 2020 that's been observed by Vanda Research, which tracks retail flows in ETFs and single stocks.
According to the firm, they've been offloading chip stocks and other AI favorites, possibly to build a "dry powder" stash to throw at new stocks hitting the market this year.
Data shows that retail traders were net sellers of stocks for three days in a row this week, the first time since 2020 that's been observed by Vanda Research, which tracks retail flows in ETFs and single stocks.
According to the firm, they've been offloading chip stocks and other AI favorites, possibly to build a "dry powder" stash to throw at new stocks hitting the market this year.
"We're already seeing signs that retail investors are rotating out of recent AI favorites ahead of the IPO wave," Vanda said on Thursday.
See more less
4 hours ago
Copied!
SpaceX is the blueprint for mega IPOs to come
SpaceX is the first of the 2026 mega-IPOs to exit the pipeline, with trillions of dollars of additional market cap set to be added from AI titans Anthropic and OpenAI later this year.
Importantly, the debut of Musk's rocket company will set the tone for others to come.
SpaceX is the first of the 2026 mega-IPOs to exit the pipeline, with trillions of dollars of additional market cap set to be added from AI titans Anthropic and OpenAI later this year.
Importantly, the debut of Musk's rocket company will set the tone for others to come.
"I expect that the SpaceX IPO will be the high tide that lifts all boats, resulting in a flood of new IPOs, and all-time highs in the market," Ross Carmel, a partner at capital markets law firm Sichenzia Ross Ference Carmel, told Business Insider this week.
On the flip side, an IPO flop could undermine investor enthusiasm and make less high-profile companies hesitant to enter the market in a year when a handful of major whales dominate the conversation.
See more less
5 hours ago
Copied!
SpaceX-Tesla merger talk
Bloomberg/Getty Images; Zhang Peng/LightRocket via Getty Images
Some have flagged a possible merger between SpaceX and Tesla, given that both companies are run by Musk and have similarly high-tech ambitions.
The two companies are already intertwined, and it wouldn't be the first time Musk merged entities under his control, with SpaceX acquiring xAI earlier this year.
Some have flagged a possible merger between SpaceX and Tesla, given that both companies are run by Musk and have similarly high-tech ambitions.
The two companies are already intertwined, and it wouldn't be the first time Musk merged entities under his control, with SpaceX acquiring xAI earlier this year.
Wedbush Securities' Dan Ives, who is among Tesla's loudest bulls on Wall Street, said he expected a SpaceX merger in 2027.
The pair's combined valuation would sit around $3 trillion.
See more less
5 hours ago
Copied!
Markets podcaster Ed Elson unpacks why he's bearish on the IPO
EdElson, host of the Prof G Markets podcast, recently shared why he's not rushing to buy SpaceX when it debuts. In a Substack post, he highlighted concerns about a supply shock that could negatively impact the broader market as SpaceX, Anthropic, and OpenAI bring massive offerings in relatively quick succession.
Regarding SpaceX specifically, Elson's big issue is with the valuation.
EdElson, host of the Prof G Markets podcast, recently shared why he's not rushing to buy SpaceX when it debuts. In a Substack post, he highlighted concerns about a supply shock that could negatively impact the broader market as SpaceX, Anthropic, and OpenAI bring massive offerings in relatively quick succession.
Regarding SpaceX specifically, Elson's big issue is with the valuation.
"Compared to previous go-publics, SpaceX's valuation falls nothing short of insane, " Elson wrote. "Meta went public at 28 times sales with 88% revenue growth. Google went public at 10 times sales with 234% growth. Put another way, SpaceX is growing seven times slower while asking for a multiple ten times higher."
See more less
6 hours ago
Copied!
Intense stock volatility could be good news for SpaceX's trading debut
ANGELA WEISS/AFP via Getty Images
The stock market has been intensely volatile this week. An uncertain rate outlook and renewed tensions in the Iran war explain some of the move, but others see the selling as investors getting in position to pour money into SpaceX stock.
"Some of the selling in the big momentum year-to-date winners maybe is people getting ready to buy SpaceX," Josh Brown, CEO of Ritholtz Wealth Management, said, adding that most of the sell-off is likely algorithmic as investors who are up on tech names are managing their risk during a downturn.
6 hours ago
Copied!
What's behind the nearly $2 trillion valuation?
SpaceX's S-1 filing showed that the company posted a $4.9 billion loss and a revenue of $18.7 billion in 2025, raising the question: What exactly are SpaceX investors buying?
The company's rocket launch business is the "foundation," and the Starlink satellite internet business is the "financial engine," Cathie Wood's ARK Invest, which holds a stake in SpaceX, said.
SpaceX's S-1 filing showed that the company posted a $4.9 billion loss and a revenue of $18.7 billion in 2025, raising the question: What exactly are SpaceX investors buying?
The company's rocket launch business is the "foundation," and the Starlink satellite internet business is the "financial engine," Cathie Wood's ARK Invest, which holds a stake in SpaceX, said.
The more out-of-this-world ambitions, according to the company's S-1 filing, include data centers in space, Mars colonies, asteroid mining, and opportunities in frontier tech such as AI.
The sense on Wall Street is that SpaceX stock is a bet on the future, similar to how much of the bull thesis propping up Tesla's valuation is rooted in visions of robots and cybercabs.
See more less
6 hours ago
Copied!
Orders pile up from big investors
: Plexi Images/GHI/Universal Images Group via Getty Images
In addition to reports of a majorly oversubscribed order book for retail traders, institutional interest is said to be extremely robust, with The Wall Street Journal reporting that BlackRock alone has submitted a $5 billion.
Prior to the offering, a handful of big investors told Business Insider why they would or would not be buying in at the IPO. Many said the valuation looks too rich, with many opting to wait for the hype to die down and a better entry point to likely present itself down the road.
7 hours ago
Copied!
An explosion of interest from retail traders
We knew the retail hype was big, but demand for SpaceX stock from everyday traders is shaping up to be astronomical.
Bloomberg reports that $100 billion in orders have been submitted by individual investors, but with just 30% of the planned $75 billion capital raise earmarked for retail, there's likely to be a lot of disappointed traders.
We knew the retail hype was big, but demand for SpaceX stock from everyday traders is shaping up to be astronomical.
Bloomberg reports that $100 billion in orders have been submitted by individual investors, but with just 30% of the planned $75 billion capital raise earmarked for retail, there's likely to be a lot of disappointed traders.
The rush to open the IPO to more traders kicked off in the weeks leading up to the deal. Fidelity lowered its account minimum to participate in the IPO to $2,000, and SpaceX itself courted day traders in its marketing materials.
For those who can't get in on the action at the IPO price, the stock will begin trading on Nasdaq on Friday under the ticker SPCX.
See more less
Read next
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
Business Insider tells the innovative stories you want to know
- SpaceX
- Elon Musk
- Stock Market
- More
- Tech
Cross Domain Authentication and Tracking
My Insider
Jump to
Follow Following
Every time publishes a story, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time publishes a story!
Every time a new story is published, you’ll get an alert straight to your inbox!
Look out for an alert in your inbox the next time a new story is published!
Enter your email
Sign up
By clicking “Sign up”, you agree to receive emails from Business Insider. In addition, you accept Insider’s Terms of Service and Privacy Policy.
More stories by More stories from
Read Original at Business Insider →