SpaceX has shattered records with its IPO, raising $75 billion by pricing 555.6 million shares at $135 each, according to a company statement reported by Bloomberg. The aerospace firm's market debut on Friday vaults it into the upper echelon of public companies, with traders on Polymarket wagering it will close above a $2 trillion valuation — a club that includes only six other firms, per CNBC.
The colossal demand is driven by long-term bets on future profit engines like orbital data centers, though SpaceX's only current profitable business is Starlink. Analysts quoted by Seeking Alpha question whether the $1.77 trillion valuation already prices in decades of growth. Meanwhile, Sen. Elizabeth Warren has sent letters to index providers seeking answers on waiting-period changes and retail investor protections, CNBC exclusively reported.
Leveraged ETFs for bullish and bearish bets on SpaceX stock are already being planned, MarketWatch noted, reflecting the speculative fervor reminiscent of Tesla's trading patterns. The broader market rallied alongside the IPO, with the S&P 500 and Nasdaq jumping as President Trump canceled planned Iran strikes, according to Investor's Business Daily.
Yet skeptics warn of a hype-driven valuation detached from near-term fundamentals. With only Starlink generating profits and growth getting harder, as CNBC reports, the risk of a post-IPO correction looms large. The coming days will test whether SpaceX can justify its trillion-dollar price tag on earnings power alone.