Space Exploration Technologies Corp., trading as $SPCX, is set to make history with the largest IPO ever, pricing its shares at $135 each and targeting a staggering $1.77 trillion market capitalization. The company plans to raise about $75 billion through this offering, which has already attracted demand exceeding supply by four times, signaling strong investor interest ahead of its Nasdaq debut on June 12, 2026. SpaceX’s unique business model spans three core segments: revolutionary reusable rockets with its Starship system, a rapidly expanding Starlink satellite internet service boasting 12 million subscribers, and ambitious AI-driven orbital data centers. This combination positions SpaceX as a pioneer in integrating space travel, connectivity, and artificial intelligence technologies.
However, the IPO’s lofty valuation has drawn skepticism from notable voices like veteran short seller Jim Chanos, who cautions that the $1.75 trillion price tag is largely fueled by optimistic projections rather than solid fundamentals. Chanos highlights concerns over governance and the company’s high sales multiple compared to peers like Tesla, as well as doubts about the profitability of its AI data center investments. Indeed, SpaceX reported significant net losses recently, with a $4.9 billion loss in 2025 and $4.3 billion in the first quarter of 2026, despite strong profitability in its Starlink segment.
Adding to the complexity, SpaceX faces hurdles before it can join the S&P 500 index, as it currently does not meet the index’s requirements for public float and profitability. Only about 4% of SpaceX’s shares will be publicly available post-IPO, and the company’s recent losses mean it falls short of the positive earnings criteria. This contrasts with other tech giants that took years to qualify for the index, suggesting SpaceX’s inclusion may be a longer-term prospect.
Investors should also prepare for potentially high volatility once $SPCX begins trading. Comparisons to Tesla’s trading behavior are common, given their shared founder and visionary narratives. SpaceX’s stock is expected to exhibit even greater swings, fueled by its scarcity as a newly public company and the ambitious, futuristic nature of its business plans. Reflecting this, Defiance ETFs is launching the Defiance Daily Target 2X Long SpaceX ETF (NYSE: SPCU) on June 15, 2026, offering traders a way to express leveraged daily bets on SpaceX’s stock price movements without owning shares directly. This ETF resets daily and is designed for short-term trading, highlighting the anticipated excitement and risk around SpaceX’s market debut.
With the market currently closed, investors will be watching closely when trading opens today at 9:30 AM ET to see how $SPCXperforms in what promises to be a landmark moment for the space and tech sectors.
Did you know?
The first-ever IPO on the Nasdaq was in 1971, and since then, the exchange has become home to many of the world’s most innovative companies, including giants like Apple and Microsoft.
Disclaimer
This content is for entertainment and discussion purposes only. It is based on publicly available headlines and social media commentary, which can be messy and ever-evolving. We are not financial advisors, and this is not investment advice. The publisher may hold positions in securities mentioned. We aim to keep things accurate—if you catch something off, please let us know.
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