SpaceX submitted its S-1 registration statement to list on the Nasdaq under ticker SPCX, targeting up to $75–80 billion in proceeds at a valuation between $1.75 and $2 trillion. The filing revealed $18.7 billion in 2024 revenue across rockets, Starlink, and AI operations, alongside a $5.5 billion net loss. Trading is expected to begin as early as June 11.
A successful SpaceX IPO at a $2 trillion valuation would instantly rank among the largest companies on U.S. exchanges, reshaping index weightings in funds like QQQ and SPY and drawing massive capital flows. Elon Musk retaining over 85% of voting rights means public shareholders get economic exposure but minimal governance influence — a critical distinction for investors evaluating the offering. SpaceX's disclosed $1.45 billion Bitcoin position also makes SPCX an indirect crypto proxy, adding a volatility layer to what might otherwise look like an aerospace play.
June 11: Expected IPO trading debut on Nasdaq under SPCX. Ongoing: SEC review of S-1 filing, which could request amendments before listing is approved. Watch for updated valuation range and final share price set in the roadshow, typically 1–2 weeks before debut.
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