Overview
- SpaceX completed a record‑sized IPO last Friday that raised tens of billions of dollars and sent the company briefly above a $2 trillion market value.
- The stock surged in the first days of trading to an intraday peak near $225.60 and then reversed, falling from that high by amounts reported in the high single digits to roughly 20% within a week.
- In Argentina the newly listed Cedear for SpaceX (SPCX) became the most traded Cedear, with BYMA reporting about US$24 million in volume adjusted by the MEP rate and local fintechs reporting heavy user demand for both Cedears and tokenized ‘xStock’ products.
- Observers say the volatility has been amplified by a very small public float (around 4–4.3% available to trade), SpaceX’s stock‑financed purchase of Cursor AI/Anysphere valued near $60 billion, and reports that banks are preparing a large debt placement in the tens of billions.
- Advisers are urging caution: expect price normalization as restricted shares are released later this year, watch U.S. interest‑rate signals that affect richly valued growth names, and note retail investors who accessed the stock through Argentine instruments may face sudden swings.