SpaceX stock rises after record IPO debut on Nasdaq
Key takeaways
- Analysts are divided on whether the valuation is justified.
- During the first three months of the year, the company spent $10.1 billion in capital expenditures — more than double the $4.1 billion it deployed in the year-earlier quarter — with AI accounting for most of that outlay.
- Trading in SpaceX stock opened Friday at $150, an 11% premium to the IPO price, and reached an intraday peak of $176.52.
Space X stock rises after record IPO debut on Nasdaq Quartz · JIM WATSON / Getty Images Cris Tolomia Mon, June 15, 2026 at 6:19 PM GMT+7 1 min read SPCX Space X stock gained about 6% in premarket trading on Monday, with shares touching the $170 range, building on a market debut last week that set an all-time record for IPO size. Priced at $135 ahead of its debut, the stock finished Friday at $161 — a first-day advance of 19% — pushing Space X's total market value past the $2 trillion mark.
Analysts are divided on whether the valuation is justified. Weighing in on valuation, CFRA assigned the stock a "sell" rating on Friday, setting a 12-month target of $115 — roughly 29% below where shares ended the week — with the firm pointing to an aggressive expansion strategy, steep capital requirements, and stretched valuation assumptions as the basis for its cautious stance. Morningstar's Nicolas Owens put fair value at $63 a share, concluding that the stock is "overvalued," according to CNBC. NewStreet Research was more optimistic, initiating coverage with a $165 price target.
During the first three months of the year, the company spent $10.1 billion in capital expenditures — more than double the $4.1 billion it deployed in the year-earlier quarter — with AI accounting for most of that outlay. The company lost nearly $5 billion in 2025.