SpaceX IPO sticks the landing. Here's what investors are saying about its epic first trading day
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- SpaceX closed its first trading day on the Nasdaq at $160.95 — nearly 20% above its $135 offering price — with more than 500 million shares traded and a first-day market capitalization above $2.1 trillion, making it the largest IPO ever.
- SpaceX opened at $150 at 11:30AM and rocketed to an intraday high of $176.52 within two hours before pulling back toward $158, then rebounding to settle at $160.95 and rising further to $166.85 in after-hours trading.
- Dan Alpert of Westwood Capital warned that SpaceX's up-to-30% retail allocation could trigger profit-taking at $170–$180, a dynamic he said was already playing out as the stock retreated from its highs Friday afternoon.
- CFRA issued a sell rating on SpaceX shortly after trading began, making it the lone major Wall Street firm to take a negative stance on day one amid concerns about the viability of Starship, AI monetization, and eventual free cash flow.
- Gil Luria of DA Davidson said SpaceX should be considered part of a new category of market-defining mega-cap stocks evolving from the "Magnificent Seven," alongside Nvidia, Microsoft, Amazon, Google, and Meta.
- Perpetual futures on the Hyperliquid platform had priced SpaceX around $162 mid-week, closely tracking the $160.95 closing price and suggesting the IPO's valuation was largely telegraphed before trading began.
Why it matters: SpaceX's $2.1 trillion debut instantly inserts it into the mega-cap conversation alongside Nvidia and Microsoft, per DA Davidson's Gil Luria. But with CFRA issuing the only sell rating on day one and Westwood Capital flagging that a 30% retail allocation could fuel a selloff above $170, the stock's ability to hold its debut price hinges on Starship execution and eventual free cash flow.
