SpaceX was set to open at about US$175 in its Nasdaq debut on June 12, about 30% above its US$135 initial public offering price.

The US$75 billion offering valued the company at US$1.77 trillion. Its market value could top US$2 trillion in what analysts described as a record-setting IPO.

The listing comes despite a nearly US$5 billion net loss last year on US$18 billion in revenue.

Estimates suggest Starlink generated about 61% of SpaceX’s total sales and remained its most profitable segment.

Initial supply may stay tight because only SpaceX sold shares in the IPO.

Meanwhile, insiders face a tiered lockup that starts after the first post-IPO earnings report, when up to 20% of eligible shares can be sold, followed by further staged releases over 180 days.

The structure could add demand if SpaceX enters the Nasdaq 100 under a fast-entry rule several weeks after the IPO.

Morningstar said the company could qualify after 15 days of trading and estimated its fair value at about US$780 billion.

🔗 Source: Reuters

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