After years of speculation in the private market, SpaceX has finally set its IPO dates. The company filed its public prospectus for May 20, 2026, following a confidentially submitted prospectus in April, and will list on Nasdaq under the ticker SPCX. Roadshows will begin on June 8, pricing is scheduled for June 11, and trading is expected to begin on June 12. Many media outlets are now reporting June 12 as the official IPO on Nasdaq and calling it the largest IPO in history.
Despite continued losses, the valuation has reached close to two trillion dollars.
The figures are staggering, and that's the main point. SpaceX plans to sell 555,555,555 shares at $135 per share, raising approximately $75 billion, valuing the company at approximately $1.77 trillion. The $1.77 trillion figure is also mentioned in the filing, as the listing is scheduled for June 12th. But the fundamentals are weak: the company reported a net loss of $4.94 billion in 2025 despite revenue of $18.67 billion, and two of its segments are still in the red. I believe this isn't a typical earnings-based IPO. It emphasizes Starlink's cash flow, launch dominance, and future plans such as an orbital AI data center and Mars infrastructure, not current profits.
Retail investors face higher risks due to the size of the mega offering.
From an investor perspective, the hype is justified, but so are the risks. SpaceX's IPO is being touted as one of the most anticipated, and its June 12th launch is poised to become the largest ever. Analysts of the IPO filing warn that its price-to-sales ratio is very high, there is no near-term profitability, and a 180-day lock-up period could pressure the stock. Historically, only 20% of mega-IPOs perform well over the long term. Add to this the 38 pages of risk factors, including governance concerns related to Musk's voting control, and understand that this deal is based on future growth, not current profits.
If you're searching for "buy SpaceX stock" or "investment opportunities in SpaceX," consider June 12th as a trade, not a definitive hold. Keep an eye on the $135 price, note the first-day surge and stock availability, and position yourself based on SpaceX's continued heavy investment in rocket development. The story is compelling, the valuation is historic, and the risks are equally historic.
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