SpaceX’s Historic IPO and Market Performance
Space Exploration Technologies (NASDAQ: SPCX) made a splash with its initial public offering (IPO) on October 6, 2023, raising $85.7 billion, making it the largest IPO in history. The company saw its stock surge by 19% on both its debut and following trading day, bringing its market capitalization to $2.5 trillion, positioning it among the world’s top tech firms.
Although SpaceX reported total revenues of $18 billion last year, it noted a loss of $4.9 billion, driven by significant investments—$12 billion in AI alone. Meanwhile, its Starlink division significantly contributed, generating $11.4 billion in revenue, with subscriber growth rising from 2.3 million in 2023 to over 10 million by March 2024.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
