SpaceX priced its IPO at $135, raising $75 billion for a $1.77 trillion valuation with 20% of shares allocated to retail investors, triple typical allocations. Single-stock ETFs and leveraged products will begin trading immediately, while critics warn its 100x sales multiple and unprofitable tech operations heighten valuation risks.
SpaceX set its IPO price at $135 per share, raising $75 billion and achieving a $1.77 trillion valuation, marking the largest financing of its kind in history by dollars raised and overall market cap.
The company allocated about 20% of its IPO shares to retail investors—well above the 5–10% typical range—after high demand forced a reduction from an initial 30% target reserved for everyday traders.
Brokerages launched single-stock and leveraged ETFs tied to SpaceX on day one, and major index providers will add the shares to Nasdaq and Russell benchmarks, potentially channeling significant institutional and retirement inflows.
Value investors note that SpaceX trades at roughly 100 times trailing sales and that its AI and technology segments remain unprofitable, warning that the current valuation assumes flawless execution and could lead to pronounced share volatility.
Barrons
