SpaceX’s stock extended its post-IPO rally for a second straight session on Monday, trading near $178 — a roughly 32% gain above the $135 IPO price set last week. The advance arrives as the company’s public debut is being called the biggest in history, with its market cap on day one surpassing Broadcom, Meta Platforms, and Tesla.
The offering’s structure marks a notable shift: SpaceX allocated shares to retail investors through major brokerages, a move that democratizes access to what was once an exclusive investment. The decision could reshape how retail investors participate in future high-profile public offerings.
Behind the rally, a fast-growing roster of leveraged exchange-traded funds built around the new ticker is drawing heavy investor attention. ETF issuers have been piling into SPCX, fueling the second session of gains and keeping momentum alive for the newly public company.
Critics argue the stock looks overvalued relative to industry peers. One analyst at Motley Fool suggested that, given its current valuation, SpaceX would need to justify its massive market cap against comparable companies in the aerospace and tech sectors.
Meanwhile, speculation persists about a potential merger with Tesla, as the electric vehicle maker has seen waning investor interest this year. No such deal has been announced, but the idea highlights the cross-pollination underway between Musk’s enterprises.