SpaceX (ticker: SPCX) made its long-awaited debut on the Nasdaq today, with pre-market quotes settling at $174 per share — a 29% premium above the IPO price of $135. That values the space and satellite communications giant at roughly $1.765 trillion, putting it in the top ten largest companies globally by market cap.
Key Opening Stats
- Pre-open bid/ask: $174
- IPO price: $135
- First-day gain: +29%
- Implied market cap: $1.765 trillion
The nearly 30% first-day pop reflects strong demand from both retail and institutional investors, who see SpaceX as more than a rocket company. Its Starlink satellite network already covers most of the globe, and the firm operates a massive AI compute infrastructure business — including a $920 million per month GPU lease deal with Google covering 110,000 NVIDIA chips.
Why the Premium?
SpaceX raised a record $80 billion in its IPO, one of the largest ever. The 29% premium signals market optimism about revenue streams beyond aerospace. However, the limited float — only 5% of shares were allocated to insiders and employees without lock-up — could amplify intraday volatility. Investors are watching order book depth and trade volume closely.
Retail demand had already been frenzied: the IPO was oversubscribed 4x at $250 billion. Many individual buyers used fractional share platforms to get in, pushing pre-market bids higher.