Overview
- SpaceX completed the largest IPO in history on June 12, 2026, and the stock has settled around $148–$150 after an early surge above $200.
- SpaceX, which joined the Nasdaq‑100 on July 7, forced index‑tracking funds to buy shares but still experienced a post‑index price decline.
- Only about 4% of SpaceX shares were freely tradable at listing, and scheduled lockup expirations over the next roughly 180 days will materially increase the tradable supply.
- The market values SpaceX at more than 100 times 2025 revenue of roughly $18.6–$19.3 billion, a gap that bankers and independent analysts disagree sharply about.
- The S‑1 disclosed 18,712 BTC in the treasury and the IPO created large paper wealth for insiders and employees, with thousands estimated to become millionaires, making future insider selling a key near‑term catalyst.