SpaceX (SPCX) IPO: First Day Analysis
📍 Real-Time Snapshot (as of June 13, 2026)
· Current Price: ~$167.01 USD
· IPO Price: $135.00
· Gain: +23.7%
· Market Cap: $2.18 Trillion
· Ticker: $SPCX (NASDAQ)
SpaceX completed the largest IPO in US history on June 12, 2026, raising $75B . The company holds ~18,712 Bitcoin (~$1.29B) on its balance sheet, making it one of the largest corporate holders .
Demand was massive. The offering was reportedly oversubscribed by over 4x, with over $350B in orders including a $5B bid from BlackRock .
· Oppenheimer: Outperform / $190 PT (sees SPCX reaching $2.5T in 12-18 months)
· New Street Research: $165 PT
· CFRA: Sell / $115 PT (cites Starship development risk and high capital intensity)
The 24% pop confirms market appetite for high-growth "Musk premium" assets. However, the valuation now exceeds Meta ($1.6T) and approaches Amazon, despite SpaceX losing ~$5B on ~$19B revenue in 2025 . Bulls see Starlink + xAI as the long-term thesis; bears view current pricing as execution risk.
Verdict: Historic momentum, but the valuation leaves little room for error on Starship milestones.