SpaceX’s Record IPO
On June 12, 2026, SpaceX (NASDAQ: SPCX) completed its initial public offering (IPO), raising a record $75 billion and achieving a valuation of approximately $2.1 trillion on its first trading day. This valuation surpassed established companies like Broadcom and Tesla.
The amendments to the U.S. Russell Indexes expedited SpaceX’s entry into the Russell 1000 and Russell 3000, allowing it access as soon as June 18, just five trading days after its debut. However, the IPO raised concerns over the removal of investor protections and an unconventional lockup schedule that could disadvantage retail investors, leading to inflated share prices from forced index fund purchases.
Key data: SpaceX sold over 4% of its outstanding shares during its IPO and ended its first trading day with a price-to-sales ratio of nearly 113 times its projected 2025 sales. It is currently unprofitable and faces competition from firms like Anthropic and OpenAI.
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