SpaceX IPO Valued Near $2 Trillion as Shares Fluctuate Post‑Launch

SpaceX went public on June 12, raising about $86 billion and achieving a valuation close to $2 trillion, making it the largest IPO in market history. The company listed on the Nasdaq Global Select Market under the ticker SPCX, with shares priced at $135 and first‑day gains of more than 19%. After an initial surge past $200, the stock settled in the $145‑$149 range by early July.

The addition of SpaceX to the Nasdaq‑100 on July 7 triggered an estimated $1.4 trillion of mandatory purchases by index‑tracking funds. Starlink, the satellite‑internet arm, remains highly profitable and underpins the firm’s cash flow, which has been positive since about 2015. Analysts note ongoing cash‑intensive investments in AI infrastructure and the Starship launch system, as well as upcoming lock‑up expirations that could increase selling pressure. Broader macro concerns—including U.S. tariff disputes, the Iran war, and potential Fed rate hikes—also weigh on the stock.

Despite the recent dip, many brokers maintain bullish outlooks, with a consensus one‑year price target of $242, implying a 67 % upside. The IPO’s scale has influenced capital flows, prompting some retail investors to shift funds from crypto assets to the newly listed equity.