Key Takeaways
- SPCX stock was priced at $135 and finished day one at $160.95, marking a 19.2% increase
- The aerospace company secured $75 billion in capital, establishing a new record for the largest public offering in history
- SpaceX now ranks as the sixth-largest American corporation, surpassing Amazon’s Broadcom and exceeding Berkshire Hathaway’s market cap by more than double
- Individual investors fueled exceptional demand — SPCX topped the most-purchased stock list on Friday, with buying volume 3.5 times greater than Nvidia
- Market watchers anticipate ongoing share price swings as the market determines SPCX’s true valuation
On Thursday evening, SpaceX set its initial public offering price at $135 per share. When trading commenced Friday morning, shares immediately jumped to $150 — representing an instant 11% gain.
Throughout the trading session, the stock peaked at 30% above its offering price before experiencing some profit-taking. By market close, SPCX settled at $160.95, delivering a 19.2% single-day return.
Space Exploration Technologies Corp., SPCX
In after-hours trading, shares climbed an additional 3.66% to reach $166.83.
The aerospace manufacturer generated a historic $75 billion by distributing 555.6 million shares to investors. Investment banks retained the right to issue another 83 million shares — approximately $11.2 billion worth — should market appetite remain strong.
This fundraising effort now stands as the largest initial public offering on record.
According to analysis from Bespoke Investment Group, SpaceX has achieved remarkable positioning: it now stands as America’s sixth-largest public company, trailing Amazon at $2.54 trillion while surpassing Broadcom’s $1.81 trillion valuation. The company’s market capitalization already exceeds Tesla by $700 billion and dwarfs Berkshire Hathaway at more than double its size.
Individual Investors Drove Significant Volume
Demand from retail traders emerged as a major storyline during Friday’s session. SpaceX reportedly designated approximately 30% of shares for individual investors — substantially higher than the standard 5–10% allocation common in most public offerings.
Sources indicate retail purchase orders surpassed $100 billion. According to Vanda Research, SPCX claimed the top position among retail-purchased equities that day, with net purchasing activity exceeding Nvidia by more than 3.5 times. Retail trading volume reached $453 million, accounting for roughly 4% of total single-stock retail market activity.
Reuters reported the offering received four times more orders than available shares. However, institutional oversubscription metrics frequently appear inflated, suggesting real demand might be more moderate than initial figures indicate.
Dan Ives, an analyst at Wedbush, characterized the market debut as “an important moment for the broader tech sector,” connecting it to what he views as the continuing evolution of the AI Revolution.
The Road Ahead for SPCX
Not all market participants are eager to purchase shares at current valuations. Howard Chan, who founded and leads Kurv Investment Management, highlighted potential risks directly: “The stock is bound to be volatile. Maybe it’s better to harvest volatility premium while the equity price settles down.”
Recent IPO performance supports this measured approach. Cerebras Systems declined from $400 to approximately $200 during its initial five-week trading period despite a strong opening.
Astera Labs experienced four successive doji candlestick patterns following its public debut before suffering a 62% correction to $36. The stock subsequently rebounded to become among the year’s top performers, climbing nearly 300% year to date.
Reddit displayed comparable trading behavior — tumbling from around $75 to $37 within just five weeks before finding support and ultimately reaching fresh highs.
Both ALAB and RDDT were trading substantially above their initial offering prices twelve months after going public.
The SpaceX public offering coincides with confidential IPO documentation submitted by OpenAI and Anthropic, potentially signaling an exceptionally busy period for high-profile market debuts.
SPCX concluded its inaugural trading session at $160.95.
