Key facts
- SpaceX stock rose approximately 12% on Monday, reaching $179.97.
- The company's market value reached about $2.35 trillion intraday.
- SpaceX exercised its IPO over-allotment option, adding 83.3 million shares.
- The IPO raised $75 billion, making it the largest ever.
- The total amount raised increased to $86.2 billion after exercising the over-allotment option.
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, 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, reflecting 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.
SpaceX has exercised the IPO's over-allotment option, which allows underwriters to sell an additional 83.3 million shares. This greenshoe option increases the total amount raised to $86.2 billion. 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 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 January 1, 2025, and March 31, 2026. The average one-year analyst target price of $164 suggests potential downside if 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. reported that its SpaceX stake has grown.