U.S. Space Stocks Tumble as SpaceX Jumps 28% in $2 Trillion Market Debut
Updated
Updated · Reuters · Jun 12
U.S. Space Stocks Tumble as SpaceX Jumps 28% in $2 Trillion Market Debut
3 articles · Updated · Reuters · Jun 12
Summary
Rocket Lab and Planet Labs fell about 8% Friday, Intuitive Machines dropped 11%, AST SpaceMobile lost more than 12%, and Virgin Galactic sank roughly 28% as SpaceX began trading.
SpaceX surged 28% to a valuation above $2 trillion, prompting investors to lock in gains after months of space-stock gains and to reallocate capital toward the blockbuster listing.
Virgin Galactic's slide followed a more than 20% jump on Thursday, when some investors appeared to confuse its SPCE ticker with SpaceX's SPCX symbol.
The pullback hit a sector that was still up 34% to 89% this year, even as analysts had warned valuations were stretched—Rocket Lab was worth $66 billion against about $600 million in annual revenue.
Will SpaceX's IPO launch a new era for the space industry or ground its smaller competitors for good?
Is SpaceX's $1.8 trillion valuation built on space dominance or a speculative bet on its money-losing AI ventures?
With Elon Musk holding 85% control, are IPO investors just funding his Mars dream with no real say?
SpaceX’s $75 Billion IPO: Record-Breaking Debut, Market Shockwaves, and the Trillion-Dollar Valuation Debate
Overview
On June 12, 2026, SpaceX made history with its record-breaking IPO, debuting on NASDAQ as the largest public offering ever. The company priced its shares at $135, aiming to raise $75 billion at a $1.75 trillion valuation. This monumental event sparked a rush for cash among investors, as SpaceX allocated 30% of its shares to retail buyers—three times the industry norm. The unprecedented scale and retail focus of the IPO not only set new market records but also highlighted SpaceX’s ambition and the intense demand from both Wall Street and everyday investors.