Key facts
- SpaceX stock rose approximately 12% on Monday, reaching $179.97.
- The company's market value reached about $2.35 trillion intraday.
- Trading volume exceeded 144 million shares on its second day.
- The IPO raised $75 billion, making it the largest ever.
- Saudi Arabia's Kingdom Holding Co. saw its SpaceX stake value increase to $6.83 billion.
SpaceX shares continued their upward trajectory on Monday, marking a strong second day of trading following a historic initial public offering. The stock, listed on the Nasdaq under the ticker SPCX, climbed approximately 12% to $179.97 by early afternoon, adding $19.02 to its value and pushing the company's intraday market capitalization to around $2.35 trillion.
Class A shares opened at $171.81 and reached a high of $179.50, building on the previous day's close of $160.95. Trading volume was robust, exceeding 144 million shares, which reflects the significant investor demand since the listing. On its first day, SpaceX shares surged 19%, establishing it as one of the world's largest publicly traded companies with a valuation surpassing $2 trillion. The IPO successfully raised approximately $75 billion by selling over 555 million shares at $135 each, setting a record for the largest IPO ever.
The successful debut has solidified Elon Musk's position as the world's first trillionaire and placed SpaceX among the most valuable U.S. public companies, ahead of Meta, Samsung, and Musk's own Tesla, though still trailing Nvidia.
Despite the impressive market performance, SpaceX remains unprofitable, reporting $18.7 billion in revenue last year and an $8.7 billion loss between the start of 2025 and March 31, 2026. The average one-year analyst target price of $164 also suggests potential downside if the current momentum wanes. However, investors like Kevin O’Leary have defended the high valuation, attributing it to the company's future prospects rather than its current earnings.
Saudi Arabia's Kingdom Holding Co., controlled by Prince Alwaleed bin Talal, reported that its SpaceX stake has grown to approximately $6.83 billion, an unrealized gain of about $2.36 billion since its acquisition. The firm holds 42.4 million Class A shares, representing a 0.34% stake that was valued at $4.47 billion as of March 31. These shares are subject to a 180-day lock-up period, with potential early release tied to earnings and share price milestones.