SpaceX Debuts on Nasdaq as SPCX in Largest IPO in History

SpaceX officially began trading on Nasdaq today under the ticker SPCX, marking the largest initial public offering in history. The company priced at $135 per share on June 11, raising $75 billion at a valuation of $1.77 trillion. The initial float represents approximately 4% of total shares, creating an extremely thin free float that amplifies price volatility. Due to the scale of price discovery, the first trade print is expected late morning or early afternoon ET rather than at the opening bell.

The structural story extends beyond day one. MSCI confirmed on June 9 that it will apply early inclusion treatment to SPCX, making it eligible for its Global Standard Indexes from June 13 — the second day of trading. Every passive fund tracking MSCI indexes will need to begin buying SPCX within days. Week-one price targets range from $140 to $175 with high uncertainty. Additionally, Nasdaq shortened its Nasdaq-100 waiting period to 15 trading days for megacap IPOs, making SPCX eligible for Nasdaq-100 inclusion around July 7. SpaceX also warned investors that water scarcity is becoming a critical risk factor for AI infrastructure expansion, highlighting that the AI boom faces resource constraints beyond chips and electricity. The December 2026 lockup expiry remains the key structural risk.