Key facts
- SpaceX's IPO is scheduled to begin trading Friday under the ticker SPCX.
- Shares are priced at $135.
- The company aims for a $1.75 trillion valuation, potentially making it the largest IPO ever.
- Up to 30% of IPO shares will be allocated to retail investors.
- SpaceX reported a $4.9 billion loss on $18.7 billion in revenue for 2025.
SpaceX's highly anticipated initial public offering (IPO) is set to begin trading Friday under the ticker SPCX, with shares expected to be priced at $135. The company aims to raise $75 billion, bringing its valuation to a record $1.75 trillion, which could significantly increase the wealth of CEO Elon Musk.
The IPO filing reveals that SpaceX posted a $4.9 billion loss and $18.7 billion in revenue in 2025. Investors are reportedly buying into the company's future technological advancements, including its rocket launch business, Starlink satellite internet, and more ambitious projects like space data centers, Mars colonies, and asteroid mining.
SpaceX is making a significant allocation of up to 30% of its IPO shares to individual retail investors, a much larger proportion than typically seen. This move, combined with the company's speculative valuation and potential for volatility, has raised concerns among some analysts about overexposure for everyday investors, drawing parallels to the price volatility seen in the 2012 Facebook IPO.
Analysts anticipate early trading to be volatile due to the company's massive scale, substantial retail investor involvement, speculative valuation, and a potentially small free float. Some Wall Street observers suggest that a current tech-dominated stock market sell-off could paradoxically fuel early gains for SpaceX's stock.
Speculation also exists regarding a potential merger between SpaceX and Tesla, both led by Musk. Wedbush Securities analyst Dan Ives anticipates such a merger could occur in 2027, combining the companies' valuations to approximately $3 trillion.
As the first of several large IPOs expected in 2026, SpaceX's debut is seen as setting the tone for the market. Some experts believe it will stimulate a wave of new IPOs and potentially drive the market to new all-time highs, while a less successful debut could dampen investor enthusiasm. Investors who bought Tesla shares in its 2010 IPO became rich, fostering deep faith in Elon Musk.