SpaceX set to extend rally after record Wall Street IPO

Space Exploration Technologies

Mon 09:49

    June 15 (Reuters) - 
    Shares of SpaceX SPCX.O rose more than 5.6% before the bell on Monday, set to extend gains after a blockbuster debut last week that pushed its valuation past $2 trillion and into the ranks of Wall Street's most valuable companies.
  
CEO Elon Musk said on Sunday that the rockets-to-AI company  could bring in $1 trillion in revenue by 2030. 
SpaceX reported $18.7 billion in revenue in 2025. 
Shares jumped 19% in their Nasdaq debut on Friday, making SpaceX the sixth-largest U.S. company by market value and Elon Musk the world's first trillionaire.
Retail investors -  who received about 20% of the IPO allocation - lapped up $117.6 million worth of SpaceX shares on Friday alone to make it the most purchased stock in the session and surpass the previous record IPO set by Coinbase COIN.O in April 2021, according to Vanda Research data.
Analysts and portfolio managers said investors should brace for volatility, particularly early in SpaceX's life as a public company, due to its small relative float and high valuation.
The rally could continue as SpaceX is set to for fast-track inclusion in the Nasdaq 100 will soon make it a major holding for passive funds and ETFs that track the index, creating a fresh source of demand for its shares. 
Other index providers FTSE Russell and MSCI are also set to add the stock to their indexes effective June 26 and June 29, respectively. 


 (Reporting by Shashwat Chauhan in Bengaluru; Editing by Nivedita Bhattacharjee)
 ((Shashwat.Chauhan@thomsonreuters.com;))