SpaceX IPO Values at $2.1T, Shares Peak at $218 then Slide 23%
SPCX•SpaceX priced its IPO at $135, opened at $150 and closed at $160.95, valuing the company near $2.1 trillion before peaking at $218.76. Shares have since fallen 23% to about $156, trading at a price-to-sales ratio of 104, nearly double the richest S&P 500 valuation.
1. Record-Breaking IPO Debut
SpaceX priced its IPO at $135 on June 12, opened at $150 and closed at $160.95, establishing a $2.1 trillion valuation—the largest U.S. offering on record.
2. Rapid Surge and Volatility
Shares surged to an intraday high of $218.76 before retreating to around $190, and have since dropped 23% from their post-IPO peak, settling near $156 in recent trading.
3. Historical IPO Context
The 19% first-day gain matches the long-term U.S. IPO average, but historical data show megacap listings lose half their value in year one, signalling caution for new investors.
4. Valuation Concerns
Trading at a price-to-sales ratio of 104—almost double the highest S&P 500 valuation—SpaceX faces scrutiny given its $4.27 billion first-quarter loss and $41.3 billion accumulated deficit.
