Key facts
- SpaceX's IPO priced at $135 per share.
- The IPO raised $75 billion, becoming the largest in history.
- SpaceX shares surged 19.2% on their first day of trading.
- The company's valuation surpassed $2 trillion.
- The IPO is expected to create thousands of new millionaires among employees.
- Over 400 individuals could become centimillionaires.
- The IPO includes a greenshoe option to sell an additional 15% of shares.
- The greenshoe option could raise an additional $11.2 billion.
- Retail investor demand reportedly doubled the available shares.
- SpaceX plans to allocate up to 30% of shares to retail investors.
- Kraken is offering tokenized shares (SPCxX) backed 1:1 by underlying stock.
- U.S. space stocks slumped following SpaceX's market debut.
SpaceX's initial public offering has priced at $135 per share, raising $75 billion and establishing it as the largest IPO in history. The company's shares surged 19.2% on their Nasdaq debut, pushing its valuation past $2 trillion. This significant market debut has led to a debate among retail traders regarding SpaceX's valuation, with some characterizing it as a "mega bubble" test while others point to its perceived monopoly in rocket technology and future space-based data centers. The IPO is expected to create thousands of new millionaires among its employees, with estimates suggesting over 400 individuals could become centimillionaires. Wealth advisors are cautioning these new millionaires about impulsive spending and the complexities of managing sudden wealth, including taxes and fees.
The record $75 billion IPO includes a greenshoe option, which allows for the sale of an additional 15% of shares. This provision, intended to stabilize trading, could potentially raise SpaceX an additional $11.2 billion if demand remains strong. Retail investor interest in the IPO has been substantial, with demand reportedly doubling the available shares. SpaceX plans to allocate up to 30% of its shares to retail investors through select brokerages. Crypto exchange Kraken is offering eligible customers the chance to register interest in the IPO, providing tokenized shares (SPCxX) backed 1:1 by the underlying stock.
Following SpaceX's market debut, U.S. space stocks experienced a slump as investors locked in gains after a months-long rally in the sector. The broader U.S. stock market, however, closed higher on Friday, boosted by SpaceX's performance and optimism over a potential U.S.-Iran peace deal. Major U.S. stock indexes posted weekly gains. Protesters have targeted SpaceX's IPO and Elon Musk's wealth, demonstrating outside JPMorgan Chase headquarters and urging institutional investors to avoid the company due to concerns about its profitability and Musk's control.
Companies like SpaceX, OpenAI, and Anthropic may face a prolonged wait to join the S&P 500 index. S&P Dow Jones Indices maintains a profitability requirement for inclusion, meaning market capitalization alone is insufficient for entry.