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SpaceX stock closed its first month of public trading near $145 a share after an initial frenzy that saw it surpass Amazon and Microsoft in market value briefly, a BBC News report detailed on July 13. CNBC figures show the June 12 listing raised approximately $75 billion at an opening price of $135, pushing the company’s valuation above $2 trillion on strong debut demand that sent shares up nearly 20 percent to close at $161. A New York Times assessment found such post-IPO volatility follows a pattern seen in other large offerings, with newly listed stocks falling more than 20 percent on average over the subsequent 12 months.
Starlink generated $11.4 billion of the company’s $18.7 billion in 2025 revenue while the broader business posted a $4.9 billion net loss, according to estimates compiled by research firm Sacra. The Wall Street Journal reported that analysts at Goldman Sachs and Morgan Stanley project revenue could reach between $330 billion and $470 billion by 2030, driven largely by expansion in satellite communications and potential AI applications following the acquisition of xAI. Morgan Stanley initiated coverage with a $300 per share target, representing a substantial increase from current levels, Investopedia data placed the average target from recent analyst coverage near $203.
Keith Snyder, an analyst at investment research firm CFRA, told BBC News that the early trading resembled a meme stock, fueled by retail enthusiasm for anything associated with Elon Musk but now facing pressure as the focus returns to actual business performance. Willy Lee, an investor at Neosteller, agreed in the same report that participants viewed SpaceX primarily as an artificial intelligence play tied to its xAI integration and data center leasing. Samuel Kerr, who heads equity capital markets analysis at Mergermarket, noted that IPO investors securing shares at the $135 offer price remain in positive territory while those buying in the first days of trading have seen losses.
Fortune highlighted that the SpaceX offering exceeded the previous record holder, Alibaba’s 2014 IPO, by a factor of more than 7.5 times when adjusted for scale, underscoring its historic significance. The company added to the Nasdaq-100 index on July 7, though shares fell 4.4 percent that day compared with a 1.7 percent decline for the broader index, BBC News reported. Earlier inclusion in the FTSE Russell index provided a modest lift before the subsequent downward trend took hold amid broader tech sector turbulence.
Musk has projected that SpaceX could generate $1 trillion in annual revenue by 2030, a figure roughly 55 times the 2025 total, according to disclosures reviewed ahead of the listing. The first public earnings report, anticipated in early August, will coincide with the end of a lock-up period allowing employees to sell shares received as compensation, potentially increasing supply and volatility, Kerr said in the BBC News article. Oppenheimer analyst Timothy Horan has forecasted revenue reaching $31.3 billion in 2026, with contributions from Starship technology enabling new orbital data centers and mobile connectivity applications.
SpaceX did not respond to requests for comment on the share performance, the BBC News report stated. A Visual Capitalist ranking confirmed the IPO’s position as the largest by gross proceeds, dwarfing Saudi Aramco’s previous benchmark. Analysts continue to weigh the long-term potential against near-term execution risks in rocket manufacturing, satellite deployment and emerging AI ventures as the stock settles into its post-listing phase.
