It's trading: SPCX opens at
$150 - an ~11% pop 🚀
The wait is over - and the biggest IPO in history is officially on the tape. SPCX made its Nasdaq debut at $150 a share, about 11% above the $135 IPO price. That first print values SpaceX near $2 trillion, cements Elon Musk as the world's first trillionaire, and lands below the morning's $175 froth but comfortably above where the deal priced. After a bell at 9:30 and a cross that took until midday to clear, the number everyone was waiting for is finally real.
Live as of the open, ~12:05 PM ET, June 12, 2026. First-trade figure per Nasdaq and reporting; prices move fast on debut day. Editorial commentary, not investment advice.
Up ~11% from the $135 IPO price · implied valuation near $2 trillion · the largest debut in market history is live.
From pricing to the first print
Priced at $135, indicated as high as $175 in the morning frenzy, then settled to a $150 open as the froth cooled and the cross cleared. A textbook hot-IPO arc - euphoria, negotiation, a real first print in between.
What a $150 open actually means
An ~11% first-day pop is a win for everyone in the deal and a relief for the bankers. Investors allocated at $135 are instantly in the green; the underwriters priced it tightly enough to leave a healthy - but not insane - pop on the table. At $150, SpaceX is worth roughly $2 trillion, slotting it among the most valuable companies on Earth and keeping it ahead of TSLA in the league table.
It also locks in the headline of the day: Elon Musk is the world's first trillionaire, and the open only widens his margin above that line. The $150 print is lower than the $175 the grey market screamed at dawn - the speculative top got shaved off - but it's a far cry from the skeptics who wondered if a deal this big could even clear above water. It cleared, and it popped.
The clean read: priced to leave a pop, opened with one. $150 is the rare debut number that makes the company, the bankers, and most of the buyers happy at the same time - without the runaway gap that often sets up a brutal hangover.
The open sits between a $190 bull and a $63 bear
$150 is now the anchor every analyst argues from. On one side, Oppenheimer's $190 target says the open is still ~25% below fair value if you believe the AI-and-space story. On the other, the bears are already out: at least one analyst floated a path back toward the low $60s, arguing a ~$2 trillion price tag on a company trading at 100x revenue is a valuation that has to be grown into - and might not be.
Both can be true on day one. The $150 print is the market splitting the difference between a generational growth narrative and a sky-high multiple - and the 4.3% float means it can swing hard toward either camp on relatively little volume. The number is real now; the argument over whether it's cheap or dear is just beginning.
What we're watching into the close
First, does $150 hold? A stock that drifts higher into the afternoon confirms real demand at the calmer level; one that fades back toward $135 says the pop was front-loaded by the open auction. With so few shares actually trading, expect volatility either way. Second, the closing price - the first official daily mark, and the number history will record for SpaceX's first day public.
Then the read-through: watch RKLB and ASTS for sympathy moves, and the index question - a name near $2T could be fast-tracked into the Nasdaq-100, forcing QQQ and its trackers to buy. We'll keep updating as the first session plays out.
The 60-second version
SPCX is officially trading - it opened at $150, about 11% above the $135 IPO price, in the largest market debut ever.
The $150 print values SpaceX near $2 trillion, keeps it ahead of Tesla, and cements Musk as the world's first trillionaire.
The full arc: priced $135 → indicated as high as $175 → opened $150. The speculative top got shaved, but the deal cleared and popped.
It opens between a $190 bull case and a $63 bear case - and a tiny 4.3% float means it can swing hard either way. Watch whether $150 holds into the close.
Part of our SpaceX IPO Live Blog · the live thread: the delay before the open · Musk becomes first trillionaire.
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