SpaceX (SPCX) Stock Climbs Another 6% Following Historic Market Debut

Key Takeaways

• SpaceX (SPCX) shares climbed 5.6% in premarket trading Monday, hitting $169.92 following Friday’s impressive 19% Nasdaq launch
• The company’s $75 billion offering represents the largest IPO ever recorded, establishing a market valuation near $2.1 trillion
• Shares are trading at 61 times projected 2026 revenue despite ongoing losses
• CEO Elon Musk indicated on X that annual revenue could surpass $1 trillion within six years
• S&P 500 inclusion remains off the table for a minimum of one year under index eligibility requirements

Space Exploration Technologies made its trading debut Friday on the Nasdaq exchange using the SPCX ticker symbol, finishing the session 19% higher near $161 after launching at $150 per share. During opening-day trading, the stock reached a peak of $176.52.

Space Exploration Technologies Corp., SPCX

Coming into Monday’s session, shares tacked on an additional 5.6% in premarket activity, touching $169.92. The advance coincided with broader market strength, as S&P 500 futures climbed 1.3% following news of an interim peace agreement between the United States and Iran.

The offering generated $75 billion in proceeds, establishing a new benchmark for IPO size. SpaceX finished its inaugural trading day with a market capitalization around $2.1 trillion.

First-day volume exceeded 500 million shares, nearing the approximately 580 million shares that changed hands when Facebook went public in 2012.

If SPCX had qualified for S&P 500 membership, its Monday premarket performance would have placed it fourth among index constituents. Only Micron Technology, Seagate Technology, and Western Digital posted stronger gains.

Building Momentum Early

The three top performers — Micron, Seagate, and Western Digital — have all developed momentum characteristics in recent months, attracting buyers during rallies who anticipate continued appreciation. SpaceX shows early signs of similar investor behavior just two days into public trading.

During a JPMorgan Chase livestream before the listing, Musk revealed that SpaceX has maintained positive cash flow since approximately 2015 and characterized the public offering as launching “a significant growth phase.” He detailed ambitious plans including deploying over 100,000 satellites and establishing artificial intelligence data centers in orbit.

The lofty valuation has drawn skepticism from certain market participants. Current pricing represents 61 times anticipated 2026 sales for a company that remains unprofitable.

Musk took to X on Sunday to suggest SpaceX revenue could exceed $1 trillion by 2030, commenting on a Morgan Stanley projection shared on the platform.

The Expanding Space Industry

Jefferies analysts released research alongside the IPO estimating the worldwide space economy has grown to $600 billion and projects expansion to $1.8 trillion by 2035, with defense applications representing the fastest-growing sector.

The United States government represents approximately 60% of worldwide government space expenditures, totaling roughly $80 billion. The Space Force budget surged 40% year-over-year in fiscal 2026, reaching $40 billion — significantly exceeding NASA’s $24 billion allocation.

SpaceX ranks as NASA’s second-largest commercial partner by contract value, securing $2.1 billion in 2025 agreements spanning launch operations, communications systems, and IT infrastructure.

SpaceX remains ineligible for S&P 500 inclusion for at least 12 months following its IPO, according to S&P Dow Jones Indices eligibility criteria.

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