SpaceX Makes History With Record-Breaking Public Offering

On its first day on the Nasdaq, SpaceX shares climbed significantly, opening at $150 and closing at $160.95—a 19% gain. By mid-afternoon on June 12, the stock surged further to $186.15. The offering has generated roughly $500 million in fees for lead underwriters Goldman Sachs and Morgan Stanley. Amid the volatility, SpaceX COO Gwynne Shotwell fueled market speculation by suggesting that a merger between SpaceX and Tesla could potentially simplify Musk's oversight of his corporate empire.

The S-1 filings reveal the financial reality behind the company’s valuation: SpaceX reported a $4.9 billion loss on $18 billion in revenue for 2025, contributing to a total deficit of $37 billion since its inception. Despite these losses, investor appetite remains high. Musk maintains a commanding position, holding 85.1% of the company's voting power. The IPO also serves as a significant windfall for the workforce, with approximately 4,400 employees positioned to become millionaires following the public listing.