SpaceX has made a historic stock market debut, surpassing all expectations with a valuation of approximately $2.1 trillion on its first day of trading. The company's initial public offering (IPO), the largest ever at $75 billion, priced shares at $135 each. Upon opening on the Nasdaq, shares surged to $150 and closed at $160.95, marking a 19% gain.
Trading volume exceeded 510 million shares, reflecting intense demand from both institutional and retail investors. However, the valuation is staggering for a company that remains unprofitable. SpaceX reported $18.7 billion in revenue, giving it a price-to-revenue ratio of about 112 times.
While early investors and Elon Musk stand to gain enormously, skeptics warn of overvaluation reminiscent of the dot-com bubble. The IPO has created clear winners—including early backers and employees with stock options—while latecomers may face risks if the company fails to deliver sustained profitability.
SpaceX's public listing marks a new chapter for the aerospace giant, as it aims to fund ambitious projects like Starship and Starlink, but the road ahead remains uncertain.