SpaceX returns to $2T valuation after IPO volatility

SpaceX has clawed its way back to a $2 trillion market capitalization by early September 2026, roughly three months after its record-shattering debut on the Nasdaq. The company went public on June 11 under the ticker SPCX, raising $75 billion by pricing shares at $135 each. That made it the largest IPO in US history, with an initial valuation of approximately $1.77 trillion across roughly 13.08 billion shares outstanding. From liftoff to turbulence SpaceX shares surged past the $2 trillion market cap threshold within the first trading days, briefly making Elon Musk the world’s first trillionaire on paper. Shares hit an intraday high near $226. By late June, the stock had retreated to around $154, a drop of roughly 32% from peak values. The culprit was a painfully thin public float, with only about 4-5% of total shares actually available for trading. The numbers behind the hype SpaceX reported $18.7 billion in revenue for 2025, while posting a net loss of approximately $5 billion during the same period. Morningstar analysts pegged SpaceX’s fair valuation at around $780 billion, which is less than half the company’s current market cap. SpaceX itself has framed its addressable market ...