The public debut of SpaceX (LSE: SPCX) on June 12 has injected significant volatility into global markets, with shares surging nearly 20% on their first day of trading. Priced initially at $135, the stock closed at $160, and by Monday, June 15, climbed an additional 16.6% to reach $192. This meteoric rise has pushed the company’s market capitalization toward the $2.1 trillion mark, positioning it to potentially surpass tech giants like Amazon and Microsoft.
According to reports from Yahoo Finance and The Twelfth Magpie, the rally is driven by intense investor enthusiasm surrounding Elon Musk’s ventures. However, analysts remain cautious regarding the underlying fundamentals. SpaceX reported a loss of nearly $5 billion in 2025 and an additional $4 billion in the first quarter of 2026, driven largely by capital-intensive projects such as the xAI division and Mars exploration goals.
The current valuation defies conventional price-to-earnings metrics, leading some market observers to warn that the enthusiasm may be pushing indices toward a precarious top. While some investors remain bullish, banking on the upcoming IPOs of AI firms Anthropic and OpenAI to sustain momentum, others warn that the disconnect between current share prices and profitability is unsustainable, potentially setting the stage for a significant market correction.