SpaceX stock rises over 10% in second day of trading, valued above $2T

SpaceX just became one of the most valuable publicly traded companies on the planet, and it took exactly two days to do it.

Shares of SPCX surged more than 10% on their second day of trading on June 15, with the stock fluctuating between $171 and $178 intraday. That pushed the company’s market capitalization above $2.3 trillion, a number that puts Elon Musk’s rocket company in the same valuation neighborhood as Apple and Microsoft.

For context, SpaceX priced its IPO at $135 per share just days ago. It closed its first day at $160.95, a 19.22% jump from the offer price. Two days in, the stock is already trading roughly 30% above where it debuted.

The largest IPO in history, by a wide margin

SpaceX raised $75 billion through the sale of approximately 555.56 million shares, making this the largest initial public offering ever. To put that in perspective, Saudi Aramco’s 2019 IPO raised $25.6 billion and held the record for years. SpaceX nearly tripled it.

The company listed on Nasdaq under the ticker SPCX on June 11, with trading beginning shortly after. At the IPO pricing, SpaceX was valued at approximately $1.77 trillion, supported by around 13.08 billion shares outstanding. By the close of day one, that valuation had already blown past $2.1 trillion.

First-day trading volume exceeded 500 million shares. High volume on debut typically indicates broad participation from both institutional and retail investors.

The stock’s rapid appreciation also has a notable side effect. Musk, who founded SpaceX in 2002 and remains its largest shareholder, has reportedly crossed into trillionaire territory. He is the first person to reach that milestone.

What’s driving the frenzy

The most obvious cash machine is Starlink, the satellite internet constellation that has become the dominant provider of broadband from low Earth orbit. Starlink’s subscriber base and recurring revenue model give SpaceX something most aerospace companies lack: predictable, scalable income that doesn’t depend entirely on government contracts.

Then there’s the recent acquisition of xAI, Musk’s artificial intelligence venture. Folding an AI company into SpaceX creates a narrative that Wall Street absolutely loves right now: space plus AI plus infrastructure.

The core launch business remains formidable as well. SpaceX has effectively monopolized the commercial launch market with its reusable Falcon 9 rockets and is developing the Starship vehicle for deep space missions. NASA, the Department of Defense, and commercial satellite operators all rely on SpaceX launches.

What this means for investors

But there are real risks here that the euphoria tends to obscure. A company trading at $2.3 trillion needs to generate revenue growth that justifies that valuation over time. SpaceX’s private market valuation had been climbing steadily for years through secondary share sales, but public markets are less forgiving.

A stock that gains nearly 30% in two days can also move sharply in the other direction. The 500 million-plus shares traded on day one indicate massive speculative interest alongside genuine long-term positioning.

For retail investors considering an entry, the calculus is straightforward but uncomfortable. The company’s fundamentals, spanning reusable launch vehicles, satellite internet, government contracts, and AI, are genuinely strong. But buying a stock that has already appreciated 30% in 48 hours means paying a significant premium over what the company itself thought it was worth less than a week ago.

The SpaceX IPO has reset expectations for what a public offering can look like in 2026. A $75 billion raise, a $2 trillion-plus valuation on day two, and trading volume that dwarfs most large-cap stocks on their best days.

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