SpaceX Stock $SPCX Officially Lists on Nasdaq, Trading Delay[LIVE] Updates 12th June

J.P. Morgan, Citigroup, and Bank of America were each allocated approximately 83 million shares in SpaceX’s IPO, giving each bank a stake worth about $11.2 billion at the $135 offering price. The allocations were part of SpaceX’s record-breaking public offering and highlight the significant role major financial institutions played in distributing shares to clients and investors. The scale of the allocations underscores the exceptional size of the IPO and the strong demand surrounding the company’s market debut.

SpaceX has completed its IPO, but shares have not yet started trading as Nasdaq continues the opening auction process. The exchange is matching buy and sell orders to determine a single opening price, with demand currently outweighing available supply. Indications suggest SPCX could open around $175 per share, roughly 30% above its $135 IPO price. Investors who received IPO allocations would be sitting on paper gains if that level holds. Similar delays occurred during the public debuts of Google and Meta, which faced heavy demand before trading began.

Nasdaq said SpaceX (SPCX) shares may not begin trading for several more hours as the exchange continues its IPO auction process. Nasdaq President Tal Cohen said additional time is needed to ensure an orderly market debut and determine the appropriate opening price amid strong investor demand. The delay reflects ongoing price discovery, where buy and sell orders are matched before the first trade is executed. High-profile IPOs often experience extended auction periods when order volumes are exceptionally large.

The provider behind several centralized exchange SpaceX offerings reportedly received a smaller pre-IPO SpaceX share allocation than expected, according to Kraken’s growth team. Demand from users significantly exceeded available supply, leading Kraken to partially fulfill subscriptions and refund unallocated funds. Exchanges offering xStocks or tokenized stock exposure, including Kraken, Bybit, Binance, and Bitget, could be affected by the limited allocation. Community reports suggest users who received allocations through Kraken were each assigned 4.2786 SPCX shares, indicating a standardized distribution process.

Goldman Sachs and Morgan Stanley, the lead underwriters of SpaceX’s IPO, reportedly earned a combined $500 million in commissions from the transaction. The listing has also highlighted differences in IPO access, with some brokerage firms limiting participation for retail investors through eligibility requirements and trading restrictions. Fidelity has lowered its minimum account requirement for IPO access to $2,000, broadening eligibility for some investors. The SpaceX debut has drawn significant attention as one of the largest and most heavily subscribed public offerings on record.

SpaceX shares are indicated to open at $171 in their Nasdaq debut, according to Bloomberg, representing a 26.7% gain from the IPO price of $135 per share. The strong opening indication reflects heavy investor demand, with the IPO reportedly attracting more than $350 billion in orders.

The pricing suggests investors are willing to pay a significant premium for exposure to the aerospace company as it begins public trading. The final opening price may still change as Nasdaq completes its opening auction process.

U.S. stocks fell after President Donald Trump said leaked details of a reported Iran agreement were inaccurate, casting doubt on expectations for a near-term deal. The S&P 500 dropped about 0.56% following the comments, erasing roughly $400 billion in market value based on the index’s market capitalization.

Trump said the terms described by Iranian sources did not reflect the actual agreement and warned that Iran was misrepresenting negotiations. Markets had previously rallied on hopes of a diplomatic breakthrough between the two countries.

Elon Musk said he believed SpaceX had “less than a 10% chance” of succeeding when the company was founded. The comments come as SpaceX makes its public market debut in what is being billed as the largest IPO in history. At its debut valuation, the offering is reported to be roughly 2.5 times larger than the previous record-holder.

The listing marks a major milestone for the aerospace company, which grew from a high-risk startup into one of the world’s most valuable businesses.

With SpaceX’s IPO set to begin in 30 minutes, pre-IPO perpetual futures tied to SPCX have recorded $254 million in 24-hour trading volume and $272 million in open interest on Hyperliquid. Both figures exceed those seen before the CBRS Nasdaq debut, which reached $69 million in volume and $55 million in open interest.

CBRS later priced at $185 and opened at $350. The activity suggests traders are using on-chain markets for early price discovery ahead of SpaceX’s public market debut.

More than $276 million has been wagered on SpaceX’s stock performance before trading begins, highlighting strong conviction on both sides of the market. The largest bullish position is a $33.8 million long bet by trader 0x9cc, followed by several other multimillion-dollar wagers.

On the bearish side, trader 0x051 holds the biggest short position at $7.9 million. The imbalance between long and short positions suggests traders are broadly optimistic about SpaceX’s debut, though significant bets against the stock indicate expectations of volatility after listing.

SpaceX began trading on Nasdaq under ticker SPCX at $135 per share, valuing the company at $1.77 trillion. The IPO raised $75 billion and attracted more than $250 billion in investor demand.

More than 4,400 current and former employees are expected to become millionaires through stock holdings, including about 400 with stakes exceeding $100 million. Many beneficiaries are engineers, welders, and technicians who accumulated shares through equity compensation programs.

The IPO highlights the long-term value of employee stock ownership and could reshape wealth creation in regions with large SpaceX workforces, including Starbase, Texas.

Investors are drawing parallels between the upcoming SpaceX IPO and Coinbase’s 2021 market debut. Before Coinbase listed, Bitcoin surged more than 1,200% from March 2020 and later fell about 50%. Ahead of the SpaceX IPO, the S&P 500 has gained more than 50% over the past year. The comparison is raising expectations that markets could enter a period of consolidation or profit-taking after the IPO. Whether a broader pullback occurs will depend on investor sentiment and economic conditions after the listing.