The market for SpaceX reaches $ 2 trillion after the shares of Elon Musk’s rocket company gained 30% initially.
CEO Gwen Shotwell and SpaceX executives rang the opening bell on Nasdaq on June 12, 2026.
Adam Jeffery | CNBC
SpaceX Stocks rose on Friday as trading began with Nasdaqmaking the rocket company worth more than two billion dollars, after the record-setting initial public offering.
The Elon Musk-led space company’s stock ended up trading 30% higher in midday trading to $175.50 a share, putting its market value at about $2.3 trillion.
“This was a successful launch, no doubt about it,” said Jay Woods, chief market strategist at Freedom Capital Markets. “The public demand is there, so that’s a good thing. But now we’ll have to wait to see if it can hold that open price, or if it was a crowd-pleasing sale.”
SpaceX, 1 day
SpaceX opened at $150 per share, marking a nearly 11% gain over its IPO price of $135. But that number was lower than the $175 level initially shown in interest indicators on trading desks.
“You have to give it a full day of trading, which is next week,” Woods said. “The initial thoughts on the trading desks were that it could reach $200.”
Friday’s debut officially crowns Musk as the first billionaire in history. The IPO is expected to raise thousands of new billions and many new billions.
Shares of space industry stocks fall as investors shift to SpaceX. Redwire again Rocket Lab fell more than 8% and 6%, respectively, in Friday’s session. The Procure Space ETF (UFO) and the Defiance Drone and Modern Warfare ETF (JEDI) each fell about 6%.
Redwire and Rocket Lab, 1 day
Teslaanother company led by Musk, came in between gains and losses in Friday’s session. The electric car maker — a top-rated stock among retail investors — is worth less than SpaceX on a market-to-market basis.
Investors rushed to get in on SpaceX’s IPO given their broad support for Musk following Tesla’s success on the public market. However, SpaceX allocated a smaller-than-expected portion of its IPO to the sales phase, a source told CNBC.
Still, SpaceX was one of the most-bought stocks by net retail traders as trading began on Friday, data from VandaTrack shows. It was also among the most discussed stocks RedditThe popular WallStreetBets platform in the days leading up to the IPO, according to Breakout Point.
“Market sentiment shows the book looks to be strong,” Dan Alpert, founder of Westwood Capital, told CNBC. “People who got half of the shares they asked for are now looking for a stable market to buy into.”
Many large investors have quietly built stakes in SpaceX as a private company for nearly two decades. But some market participants have raised red flags about investing in SpaceX’s IPO, citing valuation concerns and potential obstacles to Starlink’s business growth.
The launch of SpaceX is expected to start a wave of high-profile IPOs. Anthropic and OpenAI have both privately filed prospectuses with regulators in recent weeks.
SpaceX Operations Chief Gwynne Shotwell told CNBC in an exclusive interview that she “wasn’t sure we were going to go public.” But he said the moment “actually feels like the right time.”
– CNBC’s John Melloy and Tobias Burns contributed to this report.
