SpaceX opened trading Friday at $150 under the ticker SPCX after the biggest initial public offering ever.
Just after shares opened, SpaceX stock topped $160, pushing the company above a $2 trillion market cap. As of early afternoon, the high price for the day was $176.52.
Elon Musk and SpaceX President and COO Gwynne Shotwell rang the opening bell on Friday, with Musk in Texas and Shotwell at the Nasdaq in New York City.
Musk said on a JPMorgan Chase livestream before the IPO that SpaceX had been cash-flow positive since around 2015. He said he wanted to take SpaceX public now to raise capital for “a significant growth phase,” with plans to put over 100,000 satellites in orbit for communications, and to build artificial intelligence data centers in space, among other initiatives.
Musk, who became the world’s first trillionaire based on his combined stakes in SpaceX and Tesla, started the company as a reusable rocket maker, but the only profitable part of the business today is the Starlink satellite internet division.
SpaceX acquired Musk’s startup, xAI, in February 2026. That brought with it the company’s data centers, Grok AI models and an embattled AI chatbot and image generator of the same name, as well as the social network X, formerly known as Twitter.
According to its prospectus, SpaceX has accumulated a total loss of $41.3 billion since it was founded in 2002.
What you need to know:
- SpaceX opens trading at $150, above the $135 IPO price
- Antonio Gracias says he plans on holding his stake as long as he possibly can
- The ‘Dean of Valuation‘ calls massive $28.5 trillion TAM a ‘hallucination’
- Shotwell talks investor demand, $28.5 trillion TAM
- Musk gave SpaceX a 10% chance of success
- Banks are raking in $500 million in fees on the SpaceX IPO
- Shotwell says SpaceX-Tesla merger ‘might make Elon’s life a little easier
- A massive protest is set up in Times Square near the Nasdaq
- Elon Musk has a large ownership stake
- IPO is an ‘unveiling‘ for Gwynne Shotwell, SpaceX COO and president
CNBC’s reporters are covering Elon Musk’s SpaceX IPO live on air and online from our bureaus in London, Singapore, San Francisco, and Englewood Cliffs, New Jersey, and from the Nasdaq in New York City.
SpaceX sees huge trading volumes after debut
SpaceX is recording massive trading volumes within hours of its Nasdaq debut.
The rocket company has traded more than 360 million shares as of shortly after 2 p.m. ET on Friday. That’s already 10 times the total volume posted by Cerebras, the second-largest IPO this year, in its first day of trading.
SpaceX has traded more than 172 million shares on the Nasdaq alone, which is more than double the amount seen by Nokia, the second-most active stock on the exchange.
SpaceX is chasing Facebook, which saw roughly 580 million shares change hands on the social media company’s first day of trading in 2012.
https://www.cnbc.com/amp/2026/06/12/spacex-ipo-spcx-live-updates.html?shem=rimspwouoe,
