SpaceX Jumps 19% in $1.77 Trillion Nasdaq IPO as 500 Million Shares Trade
Updated
Updated · Fortune · Jul 22
SpaceX Jumps 19% in $1.77 Trillion Nasdaq IPO as 500 Million Shares Trade
3 articles · Updated · Fortune · Jul 22
Summary
$160.95 was SpaceX’s first-day close after the stock opened at $150 and finished 19% above its $135 IPO price in a Nasdaq debut that traded more than 500 million shares.
That frenzy reflects investor fear of missing the next Nvidia, but advisers and IPO specialists say the better move is often to wait because the median IPO sits about 26% below its first-day close three years later.
SpaceX’s valuation leaves little room for error: the IPO valued the company at $1.77 trillion, roughly 95 times 2025 revenue of $18.7 billion, while early private investors bought at an average $6.48 a share.
Fund managers say lasting winners in this new IPO wave should be judged on revenue, market size and governance—pointing to OpenAI’s $25 billion run rate, Anthropic’s roughly $47 billion, and SpaceX’s Musk-controlled voting structure.