LIVE: SpaceX share price makes Nasdaq debut at $150, lists at 11% premium to IPO price

Shares of Elon Musk's SpaceX made a healthy debut on Nasdaq on June 12, listing at $150 apiece, an 11% premium to its issue price of $135. The listing marked Wall Street's largest public offering in history and gave the rocket maker a market valuation of approximately $1.96 trillion.

Following its debut, Space Exploration Technologies Corp., as the company is officially known, immediately became the sixth largest publicly listed company in the US. It also emerged as the first of three anticipated "megacap" companies to go public this year, with Anthropic and OpenAI expected to follow.

SpaceX's indicated opening price has been revised lower to $155 per share, though it still points to a gain of nearly 15% over the IPO price of $135.

SpaceX’s indications of interest on Wall Street trading desks now suggest the stock could open at around $162 per share, down from the $175 level initially indicated.

Despite the moderation, the indications still imply that SpaceX would debut at a 20% premium to its IPO price of $135 per share.

The first indications of interest for SpaceX shares have begun to emerge on Wall Street trading desks.

They suggest that SpaceX could open at around $175 per share, representing a gain of nearly 30% over its IPO price of $135 per share.

These indications are submitted before trading begins and are used by trading desks to help determine the stock's opening price based on investor demand and available supply, CNBC reported.

The company raised $75 billion through the IPO, pricing 555.6 million shares at $135 each, according to a statement released on its website on Thursday. The offering surpassed Saudi Aramco’s $29.4 billion listing in 2019 by a wide margin, making it the largest IPO in history.

At the IPO price of $135 per share, SpaceX's market capitalization places it among the top 10 publicly listed companies globally and makes it more valuable than even Musk's own Tesla Inc.

The company has outlined ambitious long-term goals, including establishing a one-million-person colony on Mars, creating human settlements beyond Earth, launching football field-sized data centres into orbit, and competing with rivals Anthropic and OpenAI in the race to monetize artificial intelligence.

Elon Musk built his fortune by founding Zip2 and PayPal, ventures that earned him roughly $200 million upon their sale. He used those proceeds to establish SpaceX and invest in Tesla, defying expectations by creating a space company that pioneered reusable rockets and an automaker that helped make electric

Shares of the rocket, satellite internet and artificial intelligence giant will be released for quotation at 9:50 a.m., according to Nasdaq Inc., which operates the stock exchanges where it will trade. While they will be eligible for trading ten minutes later, it would be unusual for the stock to actually open that quickly.

Investors in Asia are trying to partake in SpaceX IPO by betting on firms that are associated with the company. According to a Bloomberg report, In India, shares of cryogenic equipment supplier INOX India Ltd. have rallied nearly 25% this month, fueled by anticipation surrounding SpaceX’s upcoming listing. Similarly, shares of turbine and engine manufacturer TD Power Systems Ltd., which also counts SpaceX as a customer, have surged this year.

"The real test will be how the market digests the IPO over the next several weeks, not just one day,”Adam Sarhan, chief executive of 50 Park Investments in New York was quoted as saying by Reuters. “The pricing came in just about right - not too hot, not too cold. Clearly retail investors are buying and, at this stage, they are a big component of this. We need to see follow-through after the first day of trading."

SpaceX has priced the biggest-ever IPO at $135 per share, making Elon Musk’s rocket and spacecraft manufacturer one of the world’s most valuable companies. The IPO raised a record $75 billion on the sale of 555.56 million shares, valuing the space, satellite and AI provider at $1.77 trillion, a record for an initial offering. Reuters reported last week that the firm was setting the price at $135.

Elon Musk, the world's richest man is set to become its first trillionaire, following the listing of SpaceX today. Most of Musk's wealth now rests with SpaceX, where he holds a stake worth roughly $866 billion, as per a Reuters report.

Along with Tesla and the rest of his properties, his net worth will exceed $1.1 trillion when the stock begins trading Friday, according to Reuters calculations based on company filings.

SpaceX's estimated valuation of around $1.77 trillion places it among the largest companies in the United States, a scale that most businesses take decades to achieve in public markets.

Investors are not merely valuing SpaceX as a rocket-launch company. Instead, the bullish investment thesis is centred on the recurring revenue potential of Starlink, the long-term opportunities from Starship, and the added growth prospects from the integration of xAI. At the same time, he cautioned that the valuation appears demanding given that investors are still gaining visibility into the company's financial performance and balance sheet, which reportedly carries a meaningful net debt position.

— Viram Shah, CEO and Founder of Vested Finance

The company has fixed the SpaceX IPO price at $135 per share. Based on the offer price, the SpaceX IPO valuation stands at approximately $1.75 trillion, placing the company among the most valuable publicly listed firms globally. Read more

For investors tracking SpaceX IPO listing from India, the debut will likely occur at 7 pm today, which corresponds to the US market open at 9:30 AM EST.

However, as per a Reuters report, it is likely that SpaceX shares may not trade until the middle of the trading day, as the exchange collects buy and sell orders and underwriters delay trading until supply and demand is balanced.

A SpaceX listing, if it materialises at the rumoured scale, would be the most significant deep-technology IPO of the decade, and arguably the largest single absorption of growth capital outside financial services since the run of mega Chinese tech offerings ended. The investment case is unusually multi-layered. Starlink alone, with its scaling subscriber base, recurring revenue profile, and structural moat around low-earth-orbit constellation density, is a standalone large-cap business. Falcon and Starship launch operations dominate commercial space and underpin a growing government contract pipeline. Optionality on lunar, Mars, and beyond is essentially being underwritten at the cost of patience. The secondary read for India is twofold. First, it validates space as a distinct, investable asset class, which should translate into faster capital availability for the domestic space-tech ecosystem and the listed satellite and propulsion supply chain. Second, the sheer scale of the absorption means a brief liquidity pause across emerging markets is mechanical and largely unavoidable. Whether the offering itself succeeds, at the indicated demand, is largely a settled question. The more meaningful question is how disciplined Indian capital allocators are about not chasing the noise around it.

• Harshal Dasani, Business Head at INVasset PMS

SpaceX is set to begin trading on Nasdaq on Friday, June 12. The company raised a whopping $75 billion from investors via its initial public offering. Elon Musk-led company's listing is being keenly tracked by investors as it offers exposure to the space, communications and AI space.