SpaceX Shares Surge 19% in Nasdaq Debut, Valued at $2.1 Trillion
SPCX•SpaceX shares soared 19% in their Nasdaq debut, valuing the company at over $2.1 trillion and surpassing Tesla’s market cap. The IPO raised $75 billion—exceeding Saudi Aramco’s record—and is expected to drive passive fund buying despite SpaceX’s $5 billion net loss last year.
1. IPO Debut and Trillion-Dollar Valuation
SpaceX shares jumped 19% on their first trading day, pushing the market capitalization to $2.1 trillion and overtaking Tesla. Elon Musk became the world’s first trillionaire as investor demand drove the stock sharply higher in the largest tech listing ever.
2. Record Proceeds and Diverging Analyst Views
The offering generated $75 billion, more than double the record set by Saudi Aramco’s 2019 IPO. Despite posting a $5 billion loss last year and trailing peers in revenue, Morningstar values SpaceX at about $780 billion while CFRA initiated coverage with a sell rating.
3. Fast-Track Index Inclusion and Passive Demand
Nasdaq amended its rules to accelerate SpaceX’s entry into the Nasdaq 100, ensuring required purchases by index-linked funds and ETFs. This anticipated passive buying pressure is expected to provide ongoing support for the share price.
