SpaceX shares jump 20% in first full day of trading after historic IPO

SpaceX experienced a significant 20% surge in shares on Monday, marking its first full day of trading post its remarkable debut on the Nasdaq the previous week. The trading volume reached around 120 million shares by noon ET on Monday, following a record-breaking 500 million shares traded on Friday, almost rivaling Facebook’s debut in 2012.

The company’s historic IPO opened at $150 per share, making it the largest IPO ever and pushing its valuation over $2 trillion. It closed at $192.45, up by 19.6%. According to Elon Musk’s posts on X, SpaceX aims to achieve approximately $1 trillion in revenue by 2030, with expectations of surpassing that in 2031, despite reporting $18.7 billion in revenue in the previous year.

SpaceX, renowned for its reusable rockets and Mars colonization dreams, also owns Starlink, Musk’s satellite internet service that became a key government contractor and the only profitable division in 2025. The company merged with xAI, Musk’s AI startup, in February.

Despite massive spending on AI impacting profits, SpaceX shows no signs of slowing down. In 2025, the company recorded a loss of nearly $5 billion with capital expenditures hitting $20.7 billion. By the first quarter of 2026, spending reached $10.1 billion, with $7.7 billion dedicated to AI, outpacing the previous year’s total spending.

The IPO broke records but raised concerns about overvaluation in the stock, AI, space, and tech industries. CFRA issued a “sell” rating on SpaceX with a price target of $115, reflecting a potential 29% drop from the closing price. The high expectations are based on Musk, Starlink, AI, and SpaceX’s potential dominance in emerging industries.

While the stock may continue to rise, investors need to consider the already high expectations priced into the stock. Morningstar analyst Nicolas Owns valued SpaceX at $63 per share, deeming it overvalued before the IPO.