SpaceX IPO: From Record-Breaking Launch to Investor Caution

By Adrian Cole

SpaceX's initial public offering (IPO) on June 11, 2026, set a record as the largest in history, raising approximately $75 billion by pricing shares at $135 each. The offering included 555.6 million shares, valuing the company at nearly $1.75 trillion.

On its first trading day, SpaceX shares surged 19%, closing at $160.95 after peaking at $176. This performance implied a market capitalization of approximately $2.3 trillion, driven by investor enthusiasm and fear of missing out (FOMO), particularly surrounding Elon Musk's leadership.

However, the IPO's success has been followed by a significant market correction. Within weeks, SpaceX's market value saw a reduction of several hundred billion dollars, as investor skepticism grew over the company's high valuation, which was over 100 times its trailing sales.

Experts have warned that such rapid post-IPO gains often precede underperformance in the following years. Analysts like NYU's Aswath Damodaran have cautioned that investors are paying for anticipated success that has not yet materialized.

Looking ahead, SpaceX faces further market pressure with the upcoming expiration of lock-up agreements. Scheduled for August 6, these expirations could release up to 1.37 billion shares into the market, potentially increasing the float by 40-50%, or $900 billion to over $1 trillion in market value.