Investors gave SpaceX a blockbuster welcome on its stock market debut, sending the company’s valuation above $2 trillion and cementing its place among the world’s most valuable listed firms.After raising $75 billion in the biggest initial public offering ever, SpaceX began trading under the ticker SPCX at $150, an 11% premium to its IPO price of $135, according to an ET report.The stock surged as high as $176.52 during the session before ending the day at $160.95, a gain of nearly 19% from the offer price.According to Companies Marketcap data, the rally lifted SpaceX into seventh place among the world’s most valuable listed companies.With a market value of about $2.1 trillion at Friday’s close, SpaceX now sits just behind Taiwan Semiconductor Manufacturing Co. (TSMC), which is valued at $2.9 trillion.Nvidia remains the world’s most valuable company with a market capitalisation of $4.72 trillion, followed by Alphabet at $4.15 trillion, Apple at $4.06 trillion, Microsoft at $2.76 trillion, Amazon at $2.44 trillion and TSMC at $2.9 trillion. SpaceX, at $2.1 trillion, now occupies the seventh spot.
Investor demand drives debut
Investor demand was evident throughout the session. More than 500 million shares changed hands on debut, a figure that approached Facebook’s first-day trading volume of about 580 million shares in 2012.The momentum did not stop when the closing bell rang. SpaceX shares continued climbing in extended trading, rising close to 3.5% to $166.76 as of 6:30 pm ET.Roughly 16 million shares changed hands in post-market activity, adding to the more than 500 million traded during regular hours.The after-hours advance lifted the company’s market capitalisation by another $80 billion, taking it to around $2.2 trillion.
Musk’s fortune crosses $1 trillion
The blockbuster debut also marked a watershed moment for Musk personally. The surge in SpaceX shares pushed his net worth to $1.11 trillion, making him the world’s first trillionaire.According to the Bloomberg Billionaires Index, Musk’s fortune now exceeds the combined wealth of Larry Page, Sergey Brin, Jeff Bezos and Larry Ellison, whose combined net worth stands at $1.089 trillion.The frenzy around the stock was fuelled not only by institutional investors but also by retail traders eager to gain exposure to one of Musk’s flagship companies.Despite receiving a smaller-than-expected IPO allocation, retail investors piled into the stock on debut.According to a CNBC report, data from VandaTrack showed SpaceX was the most-bought stock by retail traders on a net basis during Friday’s session, while it was also among the most-discussed names on Reddit’s WallStreetBets forum ahead of the listing.
Losses fail to deter investors
What makes the enthusiasm particularly striking is that SpaceX remains loss-making. The company reported 2025 revenue of $18.67 billion and a net loss of $4.94 billion.Investors, however, appear focused on future opportunities across satellite broadband, launch services, defence contracts and AI-related businesses rather than current profitability. Musk is also expected to retain effective control of SpaceX following the IPO.Regulatory filings show he will hold about 82.4% of voting rights through Class B shares, which carry 10 votes per share. Public investors, meanwhile, will own Class A shares that carry one vote per share.
