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2mo ago

SpaceX IPO Pushes Musk Past $1 Trillion as Shares Surge and Volatility Spikes

Limited publicly tradable stock has produced outsized price moves that could force passive funds and options traders to reshape demand for the shares.

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Overview

  • SpaceX, which went public on Friday, June 12, raised about $75 billion in the initial sale and $85.7 billion after underwriters exercised a greenshoe option.
  • The listing propelled the company’s market value above $2 trillion and briefly placed SpaceX among the five most valuable public companies in the world.
  • Only a small percentage of shares were available to outside investors at the start of trading and heavy options flows have amplified intraday swings in the stock price.
  • About 4,400 current and former employees are expected to become millionaires from the IPO while most insider holdings, including Elon Musk’s stake, are locked from sale for roughly a year.
  • The company is deploying proceeds to expand Starlink, fund launch and Starship projects, and pursue software and AI deals such as the planned purchase tied to Cursor, a move that helps explain investor bets on long‑term growth rather than near‑term profits.