SpaceX Will Trade Today After Largest IPO Ever (Live Updates)

SpaceX officially began trading on Nasdaq on Friday under the ticker 'SPCX,' marking the largest initial public offering (IPO) in history. The company set its IPO price at $135 per share, valuing SpaceX at $1.77 trillion and surpassing Saudi Aramco and Tesla in market valuation. The offering attracted over $70 billion in retail orders, far exceeding the $5.5 billion raised by AI chipmaker Cerebras earlier this month. SpaceX aimed to sell approximately 555.6 million shares, raising $75 billion in its debut. The company’s addressable market—including Starlink broadband, mobile services, X’s digital advertising, AI infrastructure, and enterprise applications—was valued at $28.5 trillion. The IPO finalized after SpaceX rejected bank suggestions to lower its price, maintaining the $135 valuation. U.S. Senator Elizabeth Warren criticized the IPO in a letter to the SEC, warning that Elon Musk’s 85% voting control over SpaceX gives him "unprecedented power" and limits shareholder rights. Warren urged regulators to investigate whether investors are adequately protected and whether the stock’s valuation is justified. The IPO was oversubscribed by nearly four times, with BlackRock alone ordering over $5 billion in shares. SpaceX’s governance structure, where Musk retains full control, has drawn scrutiny, as it restricts shareholder influence. The company’s SEC filings detailed its financial plans but faced skepticism over transparency and governance risks. Analysts noted SpaceX’s IPO could make Elon Musk the world’s first trillionaire, given his stake in the company. However, concerns remain about the company’s valuation, regulatory oversight, and long-term investor protections amid its record-breaking debut.