SpaceX’s Historic IPO
On June 12, 2026, Elon Musk’s Space Exploration Technologies (SpaceX) raised $85.7 billion in its initial public offering (IPO), setting a record and significantly exceeding Saudi Aramco’s $29.4 billion raised in December 2019. This staggering amount includes the overallotment exercised by underwriters.
Despite the immense initial capital raised, analysts warn of potential future volatility. Historical data reveals that the average drawdown for the 30 most hyped tech IPOs since 2012 is 55% in their first year. Currently, SpaceX has a price-to-sales ratio of 109, far above the typical threshold of 30 for sustainable valuations, raising concerns about the company’s valuation amidst a staggered lockup schedule for insiders.
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