SpaceX IPO Highlights
Space Exploration Technologies (NASDAQ: SPCX) went public on June 12, 2023, raising a record $75 billion, which totals over $85 billion after overallotment. The company aims for a trillion-dollar market cap, a level reached by only a few established tech firms like Nvidia and Amazon over decades.
Despite generating $18 billion in revenue last year, SpaceX reported a loss of $4.9 billion due to heavy capital expenditures. Investors showed interest in the IPO, with 20% of shares allocated for retail investors, as the company continues to push innovative boundaries under CEO Elon Musk while planning significant future projects like Mars colonization.
As of July 2, shares are trading at approximately $160, an 18% increase from the IPO price of $135. Investors now holding shares would see their initial $10,000 investment worth about $11,800.
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