Space Exploration Technologies Corp. — better known as SpaceX — began trading on the Nasdaq under the ticker SPCX this morning, opening at approximately $174 per share. That represents a 29% surge above the $135 fixed IPO price set on June 11, in what is now the largest initial public offering in history. The company raised roughly $75 billion at a $1.77 trillion valuation.
IPO at a Glance: The Key Numbers
| Ticker | SPCX (Nasdaq) |
| IPO Price | $135/share (fixed) |
| Opening Price | ~$174 (29% pop) |
| Amount Raised | $75 billion |
| Valuation | $1.77 trillion |
| Shares Offered | 555.6 million (~4% of company) |
| Retail Allocation | ~30% of public shares |
| Pricing Date | June 11, 2026 |
Financials: Massive Revenue, Bigger Losses
SpaceX reported full-year 2025 revenue of $18.67 billion — up 33% year-over-year — driven almost entirely by its Starlink satellite internet division, now serving millions of subscribers worldwide. First-quarter 2026 revenue reached $4.69 billion, up 15%.
But the losses are equally staggering. SpaceX lost $4.94 billion in 2025 and lost an additional $4.28 billion in Q1 2026 alone. Starship development and the Starlink constellation buildout continue to burn through billions in capital expenditure.
The Analyst Divide: Morningstar vs ARK
Morningstar pegs fair value near $780 billion — less than half the IPO target — citing Starlink subscriber acquisition costs and Starship's uncertain commercial timeline. ARK Invest projects up to $3.1 trillion by 2030, betting on orbital computing infrastructure — space-based data centers and AI chip manufacturing.
How Retail Investors Got Access
The roadshow began June 4. Retail investors accessed the IPO through Fidelity, Robinhood, Charles Schwab, SoFi, and E*TRADE — but the deal was heavily oversubscribed. Most retail requests were only partially filled or rejected. Senator Elizabeth Warren formally asked the SEC to delay the offering over Musk's governance control; the IPO proceeded regardless.
Why This Matters for India
Starlink has pursued regulatory approval to operate in India for years, competing with Jio and Airtel. The IPO filing provides unprecedented transparency into Starlink's unit economics. India's space startups — Agnikul, Skyroot, Pixxel, Dhruva Space — are watching: a successful public debut could validate space-tech as a commercially viable market and open capital markets for Indian firms.
Sources: CNBC, Reuters, Investing.com, Financer.com, Fidelity, TradingView, Raseed Invest
See also: PM Modi Launches Bharat Innovates 2026 in France — 120 India · US Inflation Hits 4.2% in May 2026 — Highest in Three Years.
Sources
- Bloomberg — bloomberg.com
- Reuters Business — reuters.com/business
- Voxlogue editorial research
