New York, June 16, 2026, 04:29 ET
- SpaceX finished Monday at $192.50, gaining 19.6% in its first Nasdaq day after a record-setting debut open.
- Underwriters took up the full greenshoe for the IPO, which pushed total proceeds to $85.7 billion.
- Options trading is up next, with some possible quick index adds coming later this month.
Space Exploration Technologies Corp. kept rallying after its Nasdaq debut, closing Monday at $192.50 for a gain of 19.6%. That gave the company a valuation close to $2.52 trillion. Shares began trading Friday as SPCX after SpaceX completed its IPO at $135 a share. This IPO was SpaceX’s first time selling stock to the public.
SpaceX bumped up the size of its IPO after the underwriters used the greenshoe option, Reuters reported. That added 83.3 million shares and pushed the total amount raised to $85.7 billion, an increase from $75 billion. Demand ran high, helped by a limited float and index fund buying.
SpaceX could land in the Nasdaq 100 quickly, Reuters says, with FTSE Russell and MSCI set to add the stock on June 26 and June 29. This matters for funds and ETFs that track those indexes, since they often have to buy after additions. Jefferies expects $2.68 billion in passive inflows from just the FTSE Russell piece. The short-term trade looks like forced buying and limited shares, along with Starlink’s growth and rising investor interest in space and broadband plays. John Belton at Gabelli Funds called SpaceX “the ultimate growth stock.” Reuters
SpaceX is still losing money and needs cash, but the stock trades at a big premium. Reuters reported SpaceX made $18.7 billion in revenue for 2025, though it isn’t profitable. Morningstar’s Nicolas Owens called shares “significantly overvalued” and estimates fair value to be just $63 a share, lower than Monday’s close. Morningstar warned more shares could hit the market if private and employee holders sell after the IPO, which could drag on the price. Reuters
SPCX keeps trading as risky rather than cheap. The rally’s got buyers coming in, a record capital raise is in the books, and index flows should bring more. Still, a lot of what’s expected from Starlink, launch, Starship, and AI buildout is already in the price. Investors now are looking at Tuesday’s options debut and the index additions set for late June. The next big focus will be SpaceX’s first public earnings, with attention on revenue growth, cash burn, and Starlink margins instead of more launch updates.
