- SpaceX's initial public offering (IPO) took place at the Nasdaq MarketSite on June 12, 2026, and was marked by a live feed showing CEO Elon Musk.
- Strong orders from both retail and institutional investors were reported, benefiting from Musk's reputation for success.
- Options trading for SpaceX is expected to begin soon, with early activity anticipated to be heavy and volatile.
- SpaceX plans to allow a significant portion of its shares to become available before the usual six-month restriction period post-IPO.
- Morgan Stanley has been given the option to purchase an additional 15% of SpaceX's stock at the IPO price of $135 per share.
- Despite generating $18.7 billion in revenue, SpaceX reported a $4.94 billion loss last year, raising questions about its $2 trillion valuation.
- Critics argue that SpaceX's valuation is heavily influenced by Musk's reputation, with some suggesting it is overvalued.
- SpaceX is set to be added to major indexes, including the Nasdaq 100 and some MSCI and Russell indexes this month.
SpaceX's IPO on June 12, 2026, marked a significant milestone, drawing strong orders from both retail and institutional investors. The event was described as well-managed, benefiting from Elon Musk's reputation for success. However, the company's valuation raises eyebrows, especially given its $4.94 billion loss last year against $18.7 billion in revenue.26
"You can make a lot of arguments that SpaceX is severely overvalued. ... SpaceX is valued based on Elon Musk's reputation," said Jake Dollarhide, CEO of Longbow Asset Management. The IPO allowed Morgan Stanley to purchase an additional 15% of its stock at the IPO price of $135 a share for up to 30 days, potentially adding 83 million shares to the 555.6 million already sold.57
Options trading for SpaceX is expected to begin soon, with early activity anticipated to be heavy and volatile. The company plans to allow a significant portion of its shares to become available before the usual six-month restriction period post-IPO, linked to its performance. As SpaceX prepares to join indexes like the Nasdaq 100, the upcoming earnings report will likely reignite discussions about its valuation amidst its financial losses.38
As Todd Schoenberger, chief investment officer at Crosscheck Management, noted, "You have to look at it this way: are people actually investing in SpaceX or trading SpaceX?"
“SpaceX's IPO has generated significant interest from both retail and institutional investors, benefiting from Elon Musk's reputation. However, concerns about the company's valuation persist, especially following a $4.94 billion loss last year.”
