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SpaceX Stock Jumps Again as Elon Musk Unveils Meteoric Revenue Target
and Al Root
Updated June 15, 2026, 9:41 am EDT / Original June 15, 2026, 5:46 am EDT
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About This Summary
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SpaceX shares, trading as SPCX, rose premarket Monday, after a 19% jump on Friday’s Nasdaq debut.
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The shares trade at 61 times expected 2026 sales, despite no current profit; CEO Musk forecasts $1 trillion revenue by 2030.
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SpaceX is seen as a momentum stock, but cannot join the S&P 500 for at least 12 months post-IPO.
SpaceX is already a momentum stock. Shares rose on Monday, following up Friday’s big gain with another jump early in their second day of trading.
Elon Musk’s rocket company made its debut on the Nasdaq on Friday under the ticker “SPCX,” jumping 19%. Shares were up 6% in early trading at $170.67. The S&P 500 was up 1.5%, boosted by a potential deal to end the Iran war.
Musk said in a social-media post on X on Sunday that SpaceX’s revenue might be able to top $1 trillion in 2030, in response to a post sharing Morgan Stanley’s revenue forecast.
Musk’s number was three times as high as Morgan Stanley’s and would be a 66-fold rise compared with 2025, working out to an average annual growth well north of 100%. No one ever accused Musk of having small goals.
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Key to growing sales will be orbital AI data centers, which SpaceX plans to start deploying in 2028. SpaceX’s terrestrial data centers, which were owned by xAI before it was merged with SpaceX in February, are renting out computing space to Anthropic and Google for billions of dollars a month.
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Musk is helping, but so is the broader market, which rallied after the U.S. and Iran said they had agreed an interim peace deal to end fighting in the Middle East.
SpaceX isn’t a member of the S&P 500 yet because newly public companies have to wait at least 12 months before being considered for inclusion in S&P Dow Jones Indices’ indexes.
It would have been the S&P 500’s second-best performer in most of Monday’s premarket, trailing only memory-chip maker Micron Technology. Hard-disk drive makers Seagate Technology and Western Digital were also up by more than 5%.
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All three of those have emerged as momentum stocks this year, rising amid high trading volume, a signal to traders that more gains are ahead.
SpaceX, of course, only has one day of history, but it traded more than 500 million shares on Friday. IPOs typically trade big volumes on day one.
ARK Invest’s Cathie Wood is one investor who bought into SpaceX on Friday. Her investment management firm ARK Invest bought about 3.3 million shares across four exchange-traded funds, a daily trade notification showed.
The position was valued at $534 million as of Friday’s close. That’s small potatoes compared with founder Elon Musk’s stake. SpaceX’s IPO made him a trillionaire.
SpaceX remains an expensive stock, trading for about 33 times estimated 2027 sales and 93 times estimated 2027 earnings before interest, taxes, depreciation, and amortization, or Ebitda.
Write to George Glover at george.glover@dowjones.comExternal link
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