SpaceX Makes Historic IPO
On June 12, 2026, SpaceX (NASDAQ: SPCX) launched its initial public offering, raising $75 billion—making it the largest IPO in Wall Street history and surpassing Saudi Aramco. The company’s market capitalization reached $2.1 trillion by the end of its first trading day, placing it as the seventh-largest public company on U.S. exchanges.
Despite the optimistic outlook from some analysts, including Rob Chang of KGI Securities who set a price target of $227—implying a potential valuation of $2.97 trillion—several historical challenges suggest SpaceX could face difficulties in its first year as a public entity. Notably, the firm reported a loss of $5 billion and an unsustainable price-to-sales ratio of 113, far above the typical max of 30 for companies in its growth stage. Furthermore, data from Truist Financial indicates that 30 of the largest tech IPOs over the past 14 years have averaged a 55% decline in the year following their debut.
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