HomeMarketsU.S. & CanadaMarket ExtraMarket ExtraThe past couple of months have already seen an enormous amount of activity in the options spacePublished: June 15, 2026 at 6:24 p.m. ET
Options traders are bracing for what could be a very busy few days as a number of potentially market-moving developments are being crammed into a shortened four-day trading week.
Activity in the options market has been off the charts so far in 2026, with investors piling into bullish call options tied to hot semiconductor names and other high-flying stocks. This has helped push stocks higher, but it also leaves the market prone to sharp pullbacks, like what investors witnessed in the $1.8 trillion selloff on June 5, derivatives-market experts told MarketWatch.
VanEck Space Innovators UCITS ETF (VSPIF) is rated HOLD due to extraordinary recent gains and high concentration risk. VSPIF offers pure-play exposure to the commercial space economy, but currently lacks SpaceX, with potential inclusion not before September. The ETF's 253% one-year return is attributed to sector hype, not steady fundamentals, and future returns are expected to be more volatile and modest.
SpaceX (SPCX +19.79%), the aerospace and AI company founded by Elon Musk, went public at $135 per share on June 12. It opened at $150 and now trades at $180, giving it a market cap of $2.1 trillion and making it the world's sixth-most-valuable company.
But at that valuation, SpaceX trades at 113 times its 2025 revenue of $18.7 billion. It's also unprofitable, since the losses at its space division and newly integrated AI division (which includes xAI and X) are completely erasing Starlink's profits. Therefore, I wouldn't touch SpaceX's stock until the hype dies down and it cools to more reasonable valuations.
Image source: Getty Images.
Instead, I'd continue to accumulate rock-solid dividend stocks that will generate consistent income even if the next market crash wipes out high-flying stocks like SpaceX. These three stocks make the cut: Realty Income (O 0.99%), The Williams Companies (WMB 0.82%), and Philip Morris International (PM 1.35%).
Realty Income Realty Income, which owns more than 15,500 commercial properties, is one of the world's largest real estate investment trusts (REITs). It primarily leases its properties to recession-resistant businesses, such as convenience stores, drugstores, and discount retailers.
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It's maintained an occupancy rate above 96% since its IPO in 1994. As an REIT, it must distribute at least 90% of its taxable income to its investors as dividends, and it pays monthly dividends instead of quarterly ones. It's raised its payout 135 times since its public debut, and it currently pays a forward dividend yield of 5.2%.
Its adjusted funds from operations (AFFO) per share (which REITs use to gauge their profitability) rose by 2% in 2025. It expects that figure to grow abother 3%-4% to $4.41-$4.44 per share in 2026 to cover its forward dividend rate of $3.25 per share. Its stock trades at just 14 times that earnings estimate, making it a cheap dividend play in this frothy market.
The Williams Companies Williams is a midstream company that operates more than 33,000 miles of pipeline in the United States. Unlike other pipeline companies, which often transport a mix of natural gas, crude oil, and other resources, Williams primarily handles natural gas through its Transco pipeline that runs from Texas to the Eastern Seaboard.
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Williams handles roughly 30% of the country's natural gas production, putting it in a prime position to profit from the growth of the power-hungry AI, cloud, and data center markets. It's so building "behind the meter" (BTM) sites at data centers to provide hyperscalers with a stable flow of natural gas while bypassing traditional utilities. As a pipeline operator, it's well-insulated from volatile commodity prices because it merely collects "tolls" for using its infrastructure.
Analysts expect Williams' EPS to grow 13% to $2.38 this year, which will cover its forward dividend rate of $2.10 per share. That's a 2.9% yield, and it's raised its payout annually for 10 consecutive years. It also still looks like a bargain at 15 times this year's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).
Philip Morris International Philip Morris International, which was spun off from Altria (MO 1.82%) in 2008, is one of the world's largest tobacco companies. It generates nearly all of its revenue overseas, while Altria remains in the U.S. market. Both companies own Marlboro, the world's top cigarette brand.
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PMI, like Altria, is grappling with declining smoking rates. To offset that pressure, it consistently raises its cigarette prices and cuts costs. It's also expanding its portfolio of smoke-free products -- including its iQOS heated tobacco products, e-cigarettes, and its Zyn nicotine pouches -- to reduce its long-term dependence on cigarettes. In 2025, its sales of smoke-free products rose 14% organically and accounted for nearly 43% of its top line.
That's why it's still a reliable long-term investment. Analysts expect its adjusted EPS to grow 12% to $8.42 in 2026, comfortably covering its forward dividend rate of $5.88 per share. That equals a forward yield of 3.2%. It's raised its payout every year since its spin-off from Altria, and it still looks reasonably valued at 22 times forward earnings.
Elon Musk's space transportation, satellite internet, and artificial intelligence (AI) company, Space Exploration Technologies (SPCX +19.79%), went public last Friday. SpaceX, as it is better known, saw its stock soar 19% on the day, giving the company a $2.1 trillion market capitalization at the close of trading, making it the world's seventh-most-valuable public company.
The Center for Research in Security Prices (CRSP) maintains a series of indexes designed to track different areas of the stock market, which companies like Vanguard use as a foundation for their exchange-traded funds (ETFs). CRSP has a fast-track rule that allows it to add large companies to its indexes five trading days after their initial public offering (IPO), which means SpaceX could be in several different ETFs starting this Friday, June 19.
However, most of CRSP's indexes use a float-adjusted market cap methodology, which means they only consider the portion of a given company that actually trades publicly. Since SpaceX listed less than 5% of its shares, its float-adjusted market cap is only around $100 billion, so the company will have a relatively small representation in most CRSP indexes.
Nevertheless, here are two Vanguard ETFs that could own SpaceX before the end of this week.
Image source: Getty Images.
1. The Vanguard Total Stock Market ETF The Vanguard Total Stock Market ETF (VTI +1.68%) tracks the CRSP U.S. Total Market Index, which comprises all 3,498 companies listed on American exchanges. As a result, it's highly diversified with exposure to multitrillion-dollar giants and small-cap companies alike.
Below are the top five holdings in this Vanguard ETF, and their individual weightings.
Stock
Vanguard ETF Portfolio Weighting
1. Nvidia
6.63%
2. Alphabet
5.77%
3. Apple
5.74%
4. Microsoft
4.36%
5. Amazon
3.69%
Data source: Vanguard. Portfolio weightings are accurate as of April 30, 2026, and are subject to change.
Since SpaceX is a $2.1 trillion company, it would normally slot closely behind Amazon, which is worth around $2.6 trillion. But because of the float-adjusted market cap methodology I explained earlier, SpaceX is likely to have a weighting of just 0.12% (according to an estimate by Morningstar) when it enters the Vanguard Total Stock Market ETF.
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Therefore, SpaceX won't have much influence on this ETF's performance. That might be disappointing for investors who think the stock has significant upside, but history suggests that freshly listed stocks tend to experience elevated volatility, so maybe a small weighting isn't a bad thing.
As a result, this ETF might be a good option for investors seeking a bit of exposure to SpaceX while remaining highly diversified.
2. The Vanguard Growth ETF The Vanguard Growth ETF (VUG +2.66%) tracks the CRSP U.S. Large Cap Growth Index, which exclusively invests in the top 85% of growth stocks across the entire market. In other words, if we ranked all 3,498 stocks in the CRSP U.S. Total Market Index from largest to smallest, the Large Cap Growth Index would start at the top of the list and buy every growth stock until it captured 85% of its total value.
However, "growth" is the key word. This index disregards so-called value stocks, so you won't find companies like Coca-Cola or Johnson & Johnson here, because their fastest growing years are behind them. They focus on profitability and returning money to shareholders, and you can find such stocks in the CRSP U.S. Large Cap Value Index instead.
The Vanguard Growth ETF holds just 154 stocks. Its top five positions are almost exactly the same as the top five positions in the Vanguard Total Stock Market ETF, except with significantly higher weightings.
Stock
Vanguard ETF Portfolio Weighting
1. Nvidia
13.33%
2. Alphabet
11.60%
3. Apple
11.53%
4. Microsoft
8.76%
5. Broadcom
5.19%
Data source: Vanguard. Portfolio weightings are accurate as of April 30, 2026, and are subject to change.
The CRSP U.S. Large Cap Growth Index also uses a float-adjusted market cap methodology, so SpaceX is likely to have a small weighting of under 0.2% in the Vanguard Growth ETF when it's included on Friday.
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However, this Vanguard ETF might be suitable for investors who want to own SpaceX alongside other growth stocks. The fund has delivered a compound annual return of 18.3% over the last 10 years, which is well above the average annual return of 15.1% of the Vanguard Total Stock Market ETF over the same period. However, it can also experience more volatility during broader market corrections, which is something to keep in mind.
SpaceX (NASDAQ:SPCX) shares rose 17% to $187.70 on Monday, the first full day of trading following the company's record-breaking initial public offering on Friday, when the stock closed at $161.11, pushing its market capitalization above US$2.2 trillion and placing it among the six largest companies in the world.
The gain puts SpaceX (NASDAQ:SPCX) roughly US$400 billion shy of overtaking its nearest rival, which carries a market cap of nearly US$2.7 trillion.
The company also said Monday it has exercised the IPO's over-allotment option, allowing underwriters to sell an additional 83.3 million shares. The so-called greenshoe increases total proceeds to US$86.2 billion, or US$85.7 billion net of US$500 million in underwriting expenses listed in the prospectus.
Wedbush analyst Dan Ives said the debut represented a positive outcome for the broader technology sector, calling it a "Goldilocks" result after weeks of investor concern that the high-profile offering would drain capital from chip stocks and AI-related names.
"We view the IPO of SpaceX coming out of the gates on Friday as a 'Goldilocks outcome' for the tech sector as the reception of the pricing of SpaceX was solid and importantly the rest of the tech sector held up well," Ives said in a note to clients, adding that recent sell-offs in semiconductor stocks over the prior seven to ten days appeared partly linked to pre-IPO repositioning.
Ives said the strong debut is also a constructive signal for OpenAI and Anthropic, both of which he expects to pursue IPOs before the end of the year. He framed SpaceX going public as a watershed moment for the AI industry, arguing that as large private technology companies access public capital markets, investment into AI infrastructure will accelerate across energy, hardware, and software supply chains.
"The AI Revolution is still in the third inning and investors are still underestimating the scale and scope of this spending cycle," Ives said. He added that cloud growth for Microsoft Azure and Amazon Web Services remains underestimated by Wall Street, and that enterprise AI adoption is beginning to translate into concrete use-case deployments heading into the second half of 2026.
On the question of where value will concentrate as frontier AI models converge in quality, Ives argued the advantage shifts from the model layer toward data orchestration, identifying Palantir, Snowflake, Datadog, and Innodata as core beneficiaries.
Stephanie Aliaga, JPMorgan Asset Management global market strategist, says to expect SpaceX volatility in the next six months. She also says they are expective some big high-profile AI names, but the IPO markets are still going to be selective.
Peter Diamandis, founder of the XPRIZE Foundation, joins ‘Squawk on the Street' discuss SpaceX's public debut last week, the possibility of a SpaceX-Tesla merger, criticism of Elon Musk's trillionaire status, and more.
There's nothing quite like traders gobbling up $2 trillion of new equity to squash the fear out of the market.
Just 10 days ago, tech was nosediving, the stock market had its worst day since October 2025, and the Cboe Volatility Index was ramping up in a hurry — in part on investor concerns about how the market could digest the deluge in new SpaceX stock. Now, with the biggest initial public offering in history digested without a hiccup, investors are piling back into the very same stocks they previously sold, and Wall Street's so-called "fear gauge" is back below its long-term average.
The CBOE Volatility Index in the past month
The Nasdaq 100 jumped 3% Monday. The S&P 500 was last up about 1.7%, nearing the record reached earlier this month, as semiconductors surge to the front again, adding more than 4% to a new all-time high. Bears who argued that speculators were running out of appetite are now faced with a SpaceX market cap of almost $2.5 trillion that says otherwise. SpaceX shares were last up 13% on Monday.
"Although the SPX Index advanced by a modest 0.7% last week, the VIX Index declined far greater than expected due in large part to the unwind of protective next-12-months hedges and downside convexity positions," Ed Tom, senior director of derivatives market intelligence at Cboe, wrote in a note to clients Monday.
The VIX traded below 16 at its low Monday, a complete unwind of the pop in volatility that started June 5 when the VanEck Semiconductor ETF (SMH) fell more than 10% from its record. While options flows in the chip stocks still show significant hedging activity, trading around the VIX points to a more bullish outlook for stocks.
More puts traded than calls in VIX Monday, with almost as many calls sold as bought, according to data from ThinkOrSwim. Of the $93 million in options premium traded, more than $70 million was tied to puts, SpotGamma data show. The most popular contract by volume was the 16-strike put expiring Wednesday that traded 46,000 contracts.
In SMH, flows continued to lean bearish, as they have for weeks, despite semiconductors making an all-time high. With stock indexes now holding more semiconductors than ever, perhaps this month's whipsaw has investors paying up for hedges. While roughly 60% of premiums in SMH was in puts, there were notable put-spread sellers. This includes the biggest trader of the day, who collected $5 million selling two big put spreads expiring July 17, then spent $2.7 million getting long the 600/550 spread expiring the same day.
Options traders will have plenty to digest on Tuesday when SpaceX options list. Options in Tesla have long been a favorite among retail traders and are consistently among the most active single-stock derivatives.
HomeInvestingStocksMark HulbertMark HulbertThe biggest companies struggle to keep up with the stock market due to size alonePublished: June 15, 2026 at 4:15 p.m. ET
SpaceX founder and CEO Elon Musk appears via video before the launch of the company's initial public offering on June 12. Photo: Getty ImagesAs the stock market digests SpaceX’s mega-IPO, investors would do well to remember that bigger is not necessarily better.
This relationship between size and stock-market performance has been largely overlooked in debates about whether SpaceX’s stock is an attractive investment. But history teaches us that stocks at or near the top of the market-cap rankings face stiff headwinds due to their size alone.
Steve Westly, Managing Partner at The Westly Group and former Tesla board member, says investors should be cautious about investing in SpaceX, as investor exuberance is driving prices right now. He also warns that the firm faces steep competition with Google, OpenAI, and Anthropic in the AI space.
SpaceX shares jumped nearly 20% Monday in the Elon Musk-led rocket company’s first full day of trading following its record-shattering debut last week on the Nasdaq.
About 120 million shares had changed hands by 12 p.m. ET Monday, after trading volume on Friday broke past 500 million shares – nearing Facebook’s debut in 2012, when nearly 580 million shares were traded.
The historic debut on Friday opened at $150 a share, making it the largest-ever IPO and immediately shooting the company’s valuation above $2 trillion. It closed up 19.6% at $192.45.
SpaceX leaders and guests celebrate the firm’s IPO last Friday on the Nasdaq MarketSite. REUTERS In Sunday posts on X, his social-media platform, Musk claimed that SpaceX “might be able to reach” roughly $1 trillion revenue in 2030 – and “I would be surprised if revenue is not greater than $1T in 2031.”
That would be a huge growth trajectory, after SpaceX reported $18.7 billion in revenue last year.
SpaceX is perhaps best known for its reusable rockets and ambitions to colonize Mars.
But the company also owns Starlink, Musk’s satellite internet service provider, which has become a major government contractor over the past few years – and was the sole profitable division in 2025.
In February, Musk merged SpaceX with his artificial-intelligence startup, xAI.
The company’s massive spending on AI has weighed on its profits – and Musk has shown no signs of planning to slow down.
In 2025, SpaceX lost nearly $5 billion as its annual capital expenditures hit $20.7 billion.
SpaceX’s record-breaking IPO made Musk the world’s first trillionaire. via REUTERS In just the first quarter of 2026, SpaceX’s spending hit $10.1 billion – with AI accounting for $7.7 billion. That dwarfed its total spending in the same period last year of $4.1 billion.
Yet last week’s IPO easily smashed records, sparking a debate over whether the stock – and the broader AI, space and tech industries – are being overvalued.
CFRA on Friday gave SpaceX a “sell” rating with a 12-month price target of $115, which is nearly a 29% drop from Friday’s closing price. It attributed the less-than-enthusiastic outlook to “the company’s extremely ambitious growth strategy, elevated valuation expectations and significant capital intensity.”
“Investors aren’t buying today’s fundamentals – they’re buying Elon Musk, Starlink, AI, space infrastructure and the belief that SpaceX will dominate industries that don’t fully exist yet. That’s exciting, but it also means expectations are getting very high,” Scott Martin, partner at Kingsview Wealth Management, told The Post.
SpaceX’s Starship rocket lifts off during a test flight from Starbase, Texas, on May 22. AP Photo/Eric Gay “Can the stock continue to rise? Absolutely. But after a nearly 16% jump on top of a record IPO, investors should recognize that a lot of future expectations are already being priced in.”
In a note ahead of the IPO, Morningstar analyst Nicolas Owns said the firm values SpaceX at just $63 per share – calling the stock “overvalued.”
That reaction really makes a lot of sense. It's also, for active traders, a bit of a trap.
The launch story is the loudest signal in the room right now. But the things that will actually move SPCX over the next six months are quieter, slower, and almost invisible in mainstream coverage. Three of them deserve serious attention, and together they reframe SpaceX less as a stock to ride and more as a market-structure event to understand.
First, Figure Out What You Actually BoughtBefore anything else, retail traders need to answer a question most haven't asked yet: what kind of company is this, exactly?
The brand says "space." Rockets, Mars, reusability records, but that's the story being sold. And it's doing a lot of work hiding what's underneath.
That breakdown is a lot for valuation, and this is where Wall Street is genuinely fighting with itself. Goldman Sachs, the lead underwriter, projects the AI unit could grow revenue roughly 100 times by 2030. Morningstar puts the whole company's fair value near $780 billion. At $160-something a share, the market cap is sitting above $2 trillion. That's not a small disagreement. That's a $1.3 trillion gap depending on which analyst you believe.
A Buying Wave Is Coming – And It's Not From RetailHere's something the average QQQ holder almost certainly doesn't know yet.
In March 2026, Nasdaq rewrote its index methodology to create a "Fast Entry" pathway into the Nasdaq 100. Under the old rules, new listings had to wait several months before being added. Under the new rules, a company can enter in as few as 15 trading days, but as long as it ranks in the top 40 Nasdaq constituents by market cap. SpaceX easily qualifies at its current valuation. It's also the first company to ever use this pathway.
There's a knock-on effect too. To make room for SPCX, index funds will need to trim (sell) existing positions in other Nasdaq 100 names (probably Apple, Microsoft, Nvidia, and others). Passive investors holding those stocks through QQQ may see their allocations quietly shift without making a single decision. Their "diversified tech basket" is being restructured around them, by a rule change most of them have never heard of.
For active traders, this creates a potentially tradeable setup: a concentrated wave of forced buying in a tight window. The risk is clear too: once that wave is done, one of the structural props under the stock goes away. What happens when mandatory index demand dries up and SPCX has to hold its price on fundamentals alone is an open question worth thinking through now, not after.
There's a Volatility Calendar Hidden in the ProspectusMost retail buyers know IPOs come with lock-up periods. Very few know that SpaceX engineered something much more intricate than a standard six-month cliff, and something that's actually pretty useful for traders willing to do a bit of homework.
After that first earnings window, roughly 7% of insider shares releases at intervals around days 70, 90, 105, 120, and 135. A larger 28% unlock follows after Q3 earnings. A final batch releases around day 180. Musk and a small group of major backers have voluntarily extended their own restrictions to 366 days (this is framed publicly as a vote of confidence, but it also keeps long-term control tightly concentrated while the float expands in stages).
The point for traders is: this isn't one event to manage around. It's a calendar. Each tranche is a date when more shares could enter the market. If the stock is elevated into one of those windows, selling pressure could amplify fast. If it's been weak, the tranches may pass quietly. Either way, the schedule is readable right now, from the prospectus, before most people start looking at it.
Why Retail and the Market Are on Different ClocksOne thing that's a bit underappreciated in the SPCX conversation: the distance between how retail buyers are thinking about the stock and when the real catalysts actually land.
The first week has been driven by the launch story: the Starship V3 test flight in May, the IPO pop, the general excitement of a company going public after 24 years private. Those are vivid, real-time, emotionally charged events. They generate momentum buying with short time horizons. Totally understandable.
Three Things Nobody Is Quite Saying Out LoudA few shorter points worth flagging before you close the tab:
The $150 opening price has become a key technical level to watch. Several analysts have flagged it as critical (the point at which early aftermarket demand was established, and below which a retest of the $135 offer price starts to look plausible). Whether that framework holds or not, it gives traders a concrete near-term reference when the index wave completes and the stock has to find its own footing.
In SummarySpaceX is indeed a genuinely remarkable business. The dominant commercial launch operator on the planet. The only satellite broadband network with real global scale. An AI infrastructure play with ambitions the rest of the industry is only beginning to catch up to.
Traders who do well with SPCX over the next six months will probably be the ones who stop watching the rockets and start watching the calendar.
This article is for informational purposes only and does not constitute investment advice.
Image source: Google.
Editor’s Note: SPCX added $31.55 or nearly 20% in today’s session (June 15) to close at $192.50, pushing the market cap to $2.5 trillion.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
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Bloomberg's Bailey Lipschultz and David Bauer, head of equity capital markets Americas at JPMorgan, discuss SpaceX's success on the company's second day of trading after a record IPO Friday. Bauer said he sees a real 'investment thesis' driving SpaceX as the company contributes to reindustrializing America with 'new ecosystems' and the emergence of space as an industry.
Elon Musk’s SpaceX (NASDAQ:SPCX) on Friday pulled off the biggest IPO in history, pricing near $1.78 trillion, then jumping about 19% on debut to close above $2 trillion.
Weeks earlier, rival Blue Origin watched a rocket explode on the pad in a fireball compared to a nuclear blast.
The timing stung, because the Jeff Bezos-backed Blue Origin had been closing the gap between the two space companies.
A week before the blast, Bezos told CNBC the company was finally ready to take on outside investors, a sign it was gaining ground.
How An Explosion Moved The OddsOn May 28, a New Glenn rocket exploded on the pad during a ground test of its engines. The blast destroyed the rocket and badly damaged Blue Origin’s only launch site able to fly New Glenn, the vehicle meant to lift its Blue Moon lunar lander.
On Kalshi, the odds of Blue Origin reaching the moon before SpaceX fell to 45%, from above 69% before the explosion.
“We will fly again before the end of this year,” Blue Origin CEO Dave Limp said, but some employees told the Financial Times they doubt it.
Musk has shifted SpaceX’s focus to building a base on the moon rather than reaching Mars, its original goal.
The Capital Gap SpaceX has two cash engines Blue Origin lacks: Starlink’s billions in profit and its record IPO, which raised $75 billion. Bezos still funds his rocket company by selling Amazon stock.
Part of SpaceX’s lofty valuation comes from AI, not just rockets. The newly public company acquired xAI and plans to operate data centers in orbit.
SpaceX entered its second trading day Monday up roughly 6% above $170, already past two of three early analyst targets.
Image: Shutterstock
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On June 15, Direxion expanded its leveraged single-stock ETF lineup with the introduction of the Direxion Daily SpaceX Bull 2X ETF (LOFF). The fund has an expense ratio of 97 basis points. It aims to generate daily investment results double the performance of SpaceX (SPCX). LOFF debuted just one business day after the company’s IPO last Friday. It extends Direxion’s position as the largest single-stock ETF issuer in the U.S.
“Direxion has been managing leveraged ETFs and mutual funds for decades, and this wealth of experience and best-in-class risk management has allowed for our team to move as quickly as we have,” said Mo Sparks, Direxion’s Chief Product Officer. “Our goal is to provide traders the tactical tools they need, and as the SpaceX IPO has captured the market’s full attention, it is an important part of our offering to provide a leveraged solution as quickly as we felt reasonably possible.”
“As the global leader in single stock ETFs, we have portfolio managers who have navigated volatility throughout their careers. This, combined with our risk management processes, enables our team to launch into what likely will be a volatile market. Volatility comes with the territory at Direxion. It’s one of the leaders of the leveraged and inverse ETF market,” Sparks added.
The Business Behind the Bet SpaceX develops and launches advanced rockets and spacecraft. However, the company’s primary driver of revenue historically has come from its Starlink satellites. These satellites accounted for $11.4 billion of revenue in 2025. Despite the AI business recording a net loss prior to IPO, the company is expected to transform its xAI and its AI assistant, Grok, into a paramount $1.75 trillion driver of business. The company already exhibits opulent spending. Analysis from Neuberger expects its capital expenditures to reach $300 billion by 2030.
The fund caters to short-term investors with a high risk tolerance. Distinct from broadly diversified ETFs, LOFF tracks the price of a single stock rather than an index. This eliminates the diversification benefits seen in other products.
“Direxion is the largest leveraged single stock ETF issuer in the world and has been managing these strategies as long as they have been permitted in the US,” Sparks noted. “This scale and experience should give traders the comfort they need to feel confident that LOFF will provide the exposure they are looking to trade as soon as it comes to market.”
LOFF joins a rapidly expanding portfolio of single-stock leveraged ETFs, building on the firm’s momentum from Q1 2026 releases such as ADBU, PYPU, TXNU, and UNHU. Direxion continues to cement its role providing investment vehicles to traders seeking tactical, specialized exposure in an evolving market.
For more news, information, and analysis, visit VettaFi | ETF Trends.
As of midday, the S&P 500 (^GSPC +1.78%) rose 1.91% to 7,573.19, the Nasdaq Composite (^IXIC +2.99%) jumped 3.00% to 26,666.03, and the Dow Jones Industrial Average (^DJI +1.17%) gained 1.41% to 51,922.03 as tumbling oil and a U.S.–Iran peace framework fueled a broad risk‑on rally.
Market moversSpaceX extended its blockbuster IPO gains this morning. Semiconductor names, including Micron Technology and Western Digital, advanced on AI optimism and risk appetite. In contrast, Fox tumbled on Roku acquisition plans despite the strong tape.
What this means for investorsNews that the U.S. and Iran have agreed on a framework for peace lifted major U.S. indexes this morning. The deal, set to be signed on Friday, includes plans to reopen the Strait of Hormuz and allow oil tanker transit to resume. Oil fell to its lowest level in three months, with WTI crude oil trading around $80 per barrel at midday.
Energy stocks lagged while artificial intelligence (AI), semiconductor, and travel stocks gained, as investors shifted to growth stocks. The record-breaking SpaceX IPO reinforced bullish sentiment after the stock reached a valuation of over $2 trillion on its first day of trading.
After faltering last week, stocks seem to be rallying toward record highs once again. However, sky-high valuations and other warning signs mean some analysts remain cautious. For example, the tone of this week’s Federal Reserve meeting will be key after the 30-year Treasury yield hit a 19-year high last month. Rising bond yields have historically preceded interest rate increases and steep stock market losses.
Emma Newbery has positions in Roku. The Motley Fool has positions in and recommends Micron Technology, Roku, and Western Digital. The Motley Fool has a disclosure policy.
Across online investing forums, users complained of allocations as small as a single share of SpaceX despite requesting far larger amounts. Those who did receive stock are taking sharply different approaches, with some selling into the company's market debut while others are holding for the long haul.
Rocket Lab President and CEO Peter Beck says attention generated by the record SpaceX IPO “is a good thing for the whole space industry,” as he discusses the race to raise capital in the industry and the potential timeline for data centers in space. Beck speaks on “Bloomberg Surveillance.
Sandisk (SNDK +6.19%) stock surged 6.6% through 12:05 p.m. Monday -- and for a reason that may surprise you.
In a note out this morning, Canadian private equity shop Lynx Equity told investors that even though the SpaceX IPO is over, and even after the space company's shares are up 31%, there's still a way for investors to make money on the SpaceX IPO:
By buying Sandisk (SNDK +6.19%) stock.
Image source: Getty Images.
SpaceX is flush with cash now SpaceX made history last week, both scoring a gigantic valuation (currently $2.3 trillion -- quite a lot for a space stock with no profits) and raising $75 billion in cash.
Now SpaceX will have to figure out how to deploy all this cash to keep its growth rate going. And here's the thing: Lynx thinks SpaceX will spend quite a lot of this cash on semiconductors.
While still thought of by most investors as a space company, you see, the gigantic tech company that IPO'ed last week is really much more of an AI stock. Indeed, while the entire space launch market is currently valued at single-digit billions per year, at least some investors believe that SpaceX's AI business could eventually be worth $30 trillion annually.
Today's Change
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Current Price
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2102.70
What this means for Sandisk For SpaceX to come anywhere near fulfilling this dream, however, it's going to need to build a huge AI business -- and spend heavily on AI chips and the memory chips that support AI inference work by those chips.
This means more money flowing to Nvidia (NVDA +3.44%), for example (which is in fact Lynx's favorite play on SpaceX), and also more money flowing to Sandisk (SNDK +6.19%) as well.
The best news of all? Even valued at 23x sales, Sandisk stock is still 5x cheaper than SpaceX!
Rich Smith has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.
Space Exploration Technologies Corp. (NASDAQ: SPCX), popularly known as SpaceX, has held 18,710 Bitcoin (BTC) since its Initial Public Offering (IPO) on June 12, 2026.
After undertaking the largest IPO on Friday, with Bitcoin on its balance sheet as Finbold reported, SpaceX held the same amount of BTC as of press time. As such, the company, led by CEO and founder Elon Musk, has seen its BTC trove gain $55.2 million in unrealized profits, up from $1.15 billion on Friday to $1.21 billion on Jun 15.
SpaceX Bitcoin holdings. Source: Arkham Intelligence Notably, Bitcoin price has gained 5% over the past four days, rising from $63,521 on Friday to around $67,170 at the time of reporting. As a result, SpaceX remained the 8th-largest publicly traded company holding BTC as part of its strategic treasury reserve at the time of publication, as per updates from BitcoinTreasuries.
Bitcoin price rebounds after SpaceX IPO The SpaceX IPO debut may have influenced bullish sentiment in Bitcoin’s price. Over the past four days, BTC has rebounded by approximately 6.77%, rising from $62,910 on Friday to around $67,170 on Monday.
BTC price 7-day chart. Source: Finbold Bitcoin price faced significant selling pressure over the past few days, coinciding with the SpaceX IPO, as Finbold explained. Furthermore, the U.S. spot BTC exchange-traded funds (ETFs) recorded the highest monthly cash inflow on Friday.
If the momentum in capital rotation into Bitcoin continues over the coming days, further bullish sentiment could follow. The momentum in capital rotation toward BTC could be further strengthened if SpaceX increases its holdings, which could signal its long-term interest. Moreover, the company revealed in its May 20 S-1 filing with the United States Securities and Exchange Commission (SEC) that its BTC holdings had increased.
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SpaceX SPCX has recently had the most monumental initial public offering in Wall Street history, making a breathtaking debut on the Nasdaq exchange.
The aerospace and tech powerhouse raised a historic $75 billion – blowing past all prior financial records, instantly driving its market valuation past the $2.1 trillion mark.
However, beneath the euphoric ringing of the opening bell in New York and Texas, a big disconnect has emerged.
While public equity markets are treating Elon Musk’s firm as an unstoppable, multi-faceted giant, decentralized prediction platforms paint a remarkably skeptical picture regarding the firm’s ability to hit its most defining long-term operational objective.
The central pillar of SpaceX’s grand existential ethos – and a dominant theme throughout its SEC prospectus—is the colonization of Mars.
Yet, according to data from the prediction market platform Kalshi, crowdsourced intelligence bets heavily against near-term success.
Traders on the platform are pricing in a meager 18% probability that SPCX will successfully launch a crewed mission to the Red Planet by December 31, 2029.
Despite continuous public relations momentum and routine Starship test flights, this collective skepticism is deeply entrenched; odds have failed to cross a one-in-four threshold since the event contract debuted.
This collective doubt aligns seamlessly with SpaceX’s own regulatory disclosures, which candidly admit that building a Martian colony relies heavily on unproven or currently “non-existent” tech, rendering concrete timelines virtually impossible to guarantee.
For standard corporations, missing a core strategic goal would trigger a massive sell-off, but for SPCX shares, the short-term fallout of missing the 2030 Mars milestone is surprisingly negligible.
Institutional investors are not valuing the giant as an “immediate” interplanetary transport system.
Instead, Wall Street is infatuated with its highly lucrative, Earth-bound monopolies.
The company's financial engine is driven by its Starlink satellite broadband division, which brought in a towering $11.4 billion in revenue, commanding over 60% of total corporate inflows.
When combined with its undisputed 84% stranglehold on the global orbital launch market and its newly integrated Colossus AI data center division, SpaceX possesses robust infrastructure plans that somewhat insulate the stock from deep-space delays.
Ultimately, SpaceX stock occupies a unique duality on Wall Street, operating simultaneously as a highly profitable commercial monopoly (Starlink) and a speculative astrofuturistic bet.
Musk’s personal financial incentives are structurally tied to the extreme macro-vision—requiring a functioning colony of one million inhabitants on Mars before his restricted stock bonuses unlock—but retail and institutional traders are focused on more immediate financial metrics.
With an impending fast-track inclusion into the Nasdaq-100 index set to trigger tens of billions in passive institutional buying, the immediate trajectory for SPCX stock remains “decoupled” from deep-space timelines.
While prediction markets are likely correct that footprints won’t be left on Martian soil this decade, SpaceX’s earthly financial empire may prove sufficient to keep its stock soaring.
ToplineElon Musk’s fortune increased by more than $110 billion Monday, reaching a record high $1.2 trillion and extending his lead as the world’s richest person, as shares of SpaceX surged more than 14% on the first full trading day after the company’s historic IPO.
The world’s richest person became the first trillionaire after SpaceX’s trading debut.
Getty Images
Key FactsShares of SpaceX surged 14% as of Monday afternoon to just over $183, extending Friday’s opening rally of 19%, as Tesla shares also rose slightly (0.9%).
A further boost in SpaceX shares added $112.6 billion to Musk’s net worth, valued at a record $1.2 trillion, as he ranks the world’s richest by around four times the net worth of any other person, well ahead of Google cofounders Larry Page ($302.9 billion) and Sergey Brin ($279.5 billion) and Amazon’s Jeff Bezos ($255.5 billion), according to Forbes’ Real-Time Billionaires list.
Musk owns 4.8 billion SpaceX shares and an additional 350 million stock options with an exercise price of $8.40 per share, bringing his stake to about 38%.
big number$85.7 billion. That’s how much SpaceX raised in its IPO, the company said Monday. That came after the brokers behind the offering purchased an additional 83.3 million shares to accommodate stronger investor demand following SpaceX's initial $75 billion raise. The initial public offering reportedly brought in more than $350 billion, including roughly $100 billion from retail traders and the remaining $250 billion from institutional investors.
key backgroundSpaceX’s trading debut last week swelled Musk’s stake in the company to about $821 billion, making him the world’s first trillionaire, with a net worth of $1.1 trillion. His fortune has soared ahead of the trillion-dollar milestone and is the latest of many over the last year, after Musk in October became the first person to be valued at $500 billion in October, then hit $600 billion in December and $700 billion just four days later.
further readingForbesSpaceX Says Historic IPO Raised More Than $85 BillionBy Ty Roush
ForbesSpaceX Opens At $150—Surging 20% After Largest IPO Ever (Live Updates)By Ty Roush
ToplineElon Musk’s fortune increased by more than $110 billion Monday, reaching a record high $1.2 trillion and extending his lead as the world’s richest person, as shares of SpaceX surged more than 14% on the first full trading day after the company’s historic IPO.
The world’s richest person became the first trillionaire after SpaceX’s trading debut.
Getty Images
Key FactsShares of SpaceX surged 14% as of Monday afternoon to just over $183, extending Friday’s opening rally of 19%, as Tesla shares also rose slightly (0.9%).
A further boost in SpaceX shares added $112.6 billion to Musk’s net worth, valued at a record $1.2 trillion, as he ranks the world’s richest by around four times the net worth of any other person, well ahead of Google cofounders Larry Page ($302.9 billion) and Sergey Brin ($279.5 billion) and Amazon’s Jeff Bezos ($255.5 billion), according to Forbes’ Real-Time Billionaires list.
Musk owns 4.8 billion SpaceX shares and an additional 350 million stock options with an exercise price of $8.40 per share, bringing his stake to about 38%.
big number$85.7 billion. That’s how much SpaceX raised in its IPO, the company said Monday. That came after the brokers behind the offering purchased an additional 83.3 million shares to accommodate stronger investor demand following SpaceX's initial $75 billion raise. The initial public offering reportedly brought in more than $350 billion, including roughly $100 billion from retail traders and the remaining $250 billion from institutional investors.
key backgroundSpaceX’s trading debut last week swelled Musk’s stake in the company to about $821 billion, making him the world’s first trillionaire, with a net worth of $1.1 trillion. His fortune has soared ahead of the trillion-dollar milestone and is the latest of many over the last year, after Musk in October became the first person to be valued at $500 billion in October, then hit $600 billion in December and $700 billion just four days later.
further readingForbesSpaceX Says Historic IPO Raised More Than $85 BillionBy Ty Roush
ForbesSpaceX Opens At $150—Surging 20% After Largest IPO Ever (Live Updates)By Ty Roush
Seema Shah discusses key movers for investors to watch in Elon Musk's many business arms, including his newest publicly traded company: SpaceX (SPCX). She breaks down how Starlink factors into SpaceX's profits and where Grok stands among AI apps.
MIAMI, June 15, 2026 (GLOBE NEWSWIRE) -- Defiance ETFs today announced the launch of the Defiance Daily Target 2X Short SpaceX ETF (SPCQ), expanding its lineup of single-stock leveraged ETFs designed for active traders seeking amplified exposure to innovative growth companies. SPCQ is designed for traders seeking magnified, short-term inverse exposure to Space Exploration Technologies Corporation (“SpaceX”) (NASDAQ: SPCX), a leading aerospace and satellite communications company that recently completed its initial public offering and is focused on reusable launch systems, commercial space transportation, and global broadband connectivity through its Starlink network.
By seeking to deliver -200% of the daily percentage change in the share price of SpaceX, the Fund allows investors to express tactical bearish views on the company within the accessibility and transparency of an exchange-traded fund.
Investment Objective
The Fund seeks daily inverse investment results, before fees and expenses, of -2 times (-200%) the daily percentage change in the share price of Space Exploration Technologies Corporation (NASDAQ: SPCX). The Fund does not seek to achieve its stated investment objective for a period other than a single trading day.
Underlying Company: Space Exploration Technologies Corporation (“SpaceX”)
Space Exploration Technologies Corporation is a company listed on the Nasdaq Stock Market under the ticker SPCX, which recently completed its initial public offering, and that designs, manufactures, and launches advanced rockets and spacecraft. Founded in 2002 by Elon Musk, SpaceX develops and operates launch vehicles for commercial, government, and defense customers, and provides satellite-based broadband services through its Starlink network. The company is a leading participant in the commercial space industry, contributing to the expansion of global satellite communications and orbital launch capabilities.
An investment in the ETF is not a direct investment in SpaceX.
The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged inverse (-2X) investment results, understand the risks associated with the use of leverage, and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The Fund pursues daily leveraged investment objectives, which means it is riskier than alternatives that do not use leverage. The Fund magnifies the inverse performance of the Underlying Security and is designed strictly for short-term use. For periods longer than a single day, the Fund's performance will be the result of compounded daily returns, which is very likely to differ from -200% of the return of SpaceX over the same period. It is possible investors could lose their entire principal within a single trading day.
Defiance ETFs LLC is the ETF sponsor. The Fund’s investment adviser is Tidal Investments, LLC (“Tidal” or the “Adviser”).
The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. Please read the prospectus and/or summary prospectus carefully before investing. Hard copies can be requested by calling 833.333.9383.
Investing involves risk. Principal loss is possible. As an ETF, the Fund may trade at a premium or discount to NAV. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single issuer or sector may be subject to a higher degree of risk. There is no guarantee the Fund’s strategy will be properly implemented, and an investor may lose some or all of its investment.
SPCX Price Appreciation Risk. As part of the Fund’s inverse investment strategy, the Fund enters into swap agreements and options contracts based on the share price of Space Exploration Technologies Corporation (NASDAQ: SPCX) (the “Underlying Security”). This strategy subjects the Fund to certain of the same risks as if it shorted shares of the Underlying Security, even though it does not. By virtue of the Fund’s indirect -2X exposure to changes in the share price of the Underlying Security, the Fund is subject to the risk that the Underlying Security’s share price increases. If the share price of the Underlying Security increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks:
Indirect Investment in SpaceX Risk. SpaceX is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates, and is not involved with this offering in any way. SpaceX has no obligation to consider the Fund or its shareholders in taking any corporate actions that might affect the value of Fund shares. Investors in the Fund will not have voting rights or other ownership privileges associated with holding shares of SpaceX.
SpaceX Performance Risk. SpaceX may fail to meet publicly announced expectations about its business, launch operations, satellite deployments, or commercial growth initiatives, which could cause the value of the Underlying Security to decline. SpaceX operates in a highly capital-intensive and technologically complex industry where launch failures, manufacturing defects, delays in deployment schedules, or operational disruptions could materially affect its business and financial condition.
Commercial Space Industry Risks. Companies engaged in the commercial space industry operate in an environment characterized by rapid innovation, high development costs, evolving regulatory oversight, and uncertain demand. The success of these businesses depends on their ability to maintain technological competitiveness, execute reliable launches, and secure ongoing funding and customer demand. Increased competition, regulatory changes, launch failures, or reductions in government spending could adversely affect SpaceX and the Fund’s performance.
Satellite Communications Industry Risks. Companies involved in satellite communications and broadband services face significant operational, technological, and competitive risks. These businesses require substantial investment in satellite constellations, infrastructure, and network operations, and depend on continued regulatory approval for spectrum access and orbital positioning. Competition from terrestrial broadband providers and other satellite operators may limit growth opportunities and negatively impact the Underlying Security.
Elon Musk Influence Risk. The value of SpaceX may be significantly impacted by the actions, decisions, and public statements of Elon Musk. Public perception regarding Mr. Musk, his leadership, or involvement in other ventures may materially affect investor sentiment and the performance of the Underlying Security.
Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment that diversifies risk or tracks the market generally. The Fund’s value may fluctuate more sharply in response to events affecting SpaceX than funds that invest in a broader range of issuers.
Recent IPO and Derivatives Capacity Constraints Risk. The Fund’s ability to achieve its daily leveraged investment objective depends, in part, on the availability of swaps, options, and other financial instruments that provide exposure to the Underlying Security. For a recently public company, these instruments may be limited, illiquid, costly, or unavailable, particularly shortly after an IPO or during periods of significant volatility or market demand.
Compounding and Market Volatility Risk. The Fund’s performance for periods greater than a trading day will be the result of each day’s returns compounded over the period, which is likely to differ from 200% of the Underlying Security’s performance. During periods of higher volatility, compounding effects may cause the Fund to lose value even if the Underlying Security’s share price increases over the longer term.
Daily Correlation/Tracking Risk. There is no guarantee that the Fund will achieve a high degree of leveraged correlation to the Underlying Security. Market disruptions, volatility, or limitations in the availability of derivatives may cause the Fund’s performance to deviate from its daily leveraged investment objective.
Leverage Risk. The Fund will seek 2X long exposure through financial instruments, which exposes the Fund to the risk that losses may be magnified. Leverage increases the Fund’s volatility, and a relatively small movement in the Underlying Security’s share price may result in significant losses for the Fund.
Counterparty Risk. The Fund is subject to counterparty risk due to its use of derivatives. If a counterparty fails to meet its contractual obligations, the Fund may experience delays or losses, which could negatively affect its performance.
Derivatives Risk. The Fund’s investments in derivatives may pose risks greater than those associated with directly investing in securities. These risks include increased volatility, imperfect correlation with the Underlying Security, liquidity constraints, valuation challenges, and the potential for losses exceeding the amount initially invested.
Rebalancing Risk. If the Fund is unable to rebalance its portfolio correctly or in a timely manner, its exposure may not be consistent with its investment objective. This may increase the Fund’s risk exposure and cause its performance to diverge from its intended daily leveraged results.
Non-Diversification Risk. Because the Fund is non-diversified, it may invest a greater percentage of its assets in a single issuer. As a result, the Fund may be more sensitive to adverse events affecting SpaceX than a diversified fund.
Swap Agreements. The use of swap transactions is a highly specialized activity, which involves investment techniques and risks different from those associated with ordinary portfolio securities transactions.
Fixed Income Securities Risk. When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates.
High Portfolio Turnover Risk. Daily rebalancing is expected to result in high portfolio turnover. High portfolio turnover may increase transaction costs, which could reduce the Fund’s returns and potentially result in higher taxable distributions for shareholders.
Liquidity Risk. Some securities or financial instruments held by the Fund may be difficult to sell, particularly during periods of market stress or volatility. Reduced liquidity may make it difficult for the Fund to adjust its exposure or meet its investment objective.
New Fund Risk. The Fund is a recently organized management investment company with a limited operating history. As a result, there is limited performance history upon which investors can evaluate the Fund.
Distributed by Foreside Fund Services, LLC.
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/ab71dab4-a168-4a8c-98b0-f191b922e095
Defiance Launches SPCQ: Daily 2X Short ETF for SpaceX Defiance ETFs today announced the launch of the Defiance Daily Target 2X Short SpaceX ETF (SPCQ), ex...
Several ETFs have added exposure to Space Exploration Technologies (SPCX) after the aerospace giant completed the largest initial public offering in market history. Trading on the Nasdaq, SpaceX surged 19% from its initial $135 offering price to close at $160.95 per share, notching a historic $2.1 trillion valuation. Actively managed ETF vehicles were able to use their operational flexibility to add positions in SpaceX at its debut.
Key Takeaways Active managers bypassed traditional index-inclusion lag times by executing secondary market purchases of SpaceX on its first day of public trading. Five distinct ETFs — BLOK, DYNF, RONB, MFSG, and FFLG — swiftly established stakes in the newly public aerospace giant. While many ETFs are just now gaining exposure to the company, Baron’s RONB has uniquely held private equity exposure to SpaceX since 2017. ETF Exposure to SpaceX Active ETFs bypassed traditional index-rebalancing waiting periods to secure immediate allocations in SpaceX during its first day of public trading. According to Bloomberg data, a diverse cohort of active funds — including BLOK, DYNF, RONB, MFSG, and FFLG — have already established positions in the company. While this has been a highly anticipated IPO, it’s important to note that asset managers like Baron have maintained institutional private equity exposure to SpaceX in its ETF since 2017.
Passive index strategies face structural lag times before integrating new listings into baseline benchmarks — ranging from days to months — but active managers moved aggressively on Friday. While active ETFs could bypass the standard rules-based waiting periods that govern broad index additions, it introduces questions regarding premium execution and initial valuation risk.
Thematic and Factor ETFs Add Positions in the Aerospace Giant The buying spree spanned multiple investment mandates, reflecting the market’s multi-faceted valuation of SpaceX. The Amplify Blockchain Technology ETF (BLOK), which provides exposure to the future of blockchain and crypto investing, established an allocation. Concurrently, quantitative and factor-driven models responded to the volume; the iShares U.S. Equity Factor Rotation Active ETF (DYNF) and the Baron First Principles ETF (RONB) added positions to SpaceX.
Core Growth ETFs Add Exposure to SpaceX Core growth vehicles also built allocations during the historic volume surge. The MFS Active Growth ETF (MFSG) and the Fidelity Fundamental Large Cap Growth ETF (FFLG) each added positions on day one.
For more news, information, and analysis visit the Thematic Investing Content Hub.
VettaFi LLC (“VettaFi”) is the index provider for BLOK, for which it receives an index licensing fee. However, BLOK is not issued, sponsored, endorsed, or sold by VettaFi, and VettaFi has no obligation or liability in connection with the issuance, administration, marketing, or trading of BLOK.
Ten leveraged SpaceX ETFs launched this week alongside the public debut of Space Exploration Technologies Corporation (SPCX), which began trading on the Nasdaq, giving traders an immediate lineup of tools to bet for or against the stock.
Key Takeaways: Ten leveraged SpaceX ETFs launched alongside SPCX’s Nasdaq debut. Expense ratios range from 0.75% to 2.20%, with Leverage Shares by Themes carrying the lowest fee. Tuttle Capital Management handed the SPCX ticker to SpaceX ahead of its Nasdaq listing. The flood of launches means traders now have a full toolkit to express a directional view on SpaceX from the first session. Ten funds from six issuers all target the same underlying stock. According to press releases from the respective issuers, all ten seek to deliver either two times or inverse two times SPCX’s daily price move, before fees and expenses.
SpaceX sought to raise roughly $75 billion in its IPO, which would make it the largest public offering in history, surpassing Saudi Aramco’s 2019 listing, according to a Themes ETF Trust announcement. Reuters reported more than $250 billion in indications of interest, or roughly 3.5 to 4 times the planned offering size. As much as 30% of the allocation could go to retail investors, according to the announcement.
SpaceX is not just a rocket business. According to Defiance ETFs’, the company operates across three segments: launch services, satellite connectivity through its Starlink network, and artificial intelligence, following its acquisition of xAI in February.
Starlink generated $11.4 billion in revenue for the year ended Dec. 31, up 49.8% year over year, and served about 10.3 million subscribers across 164 countries and territories, according to Defiance ETFs.
SpaceX ETFs Cover Both Sides at Varying Costs Issuers moved quickly to meet that demand. Leverage Shares by Themes launched the Leverage Shares 2X Long SpaceX Daily ETF (SPCH) and the Leverage Shares 2X Short SpaceX Daily ETF (SSPC), both trading on Cboe, each carrying a 0.75% expense ratio, the lowest in the group, according to a Themes ETF Trust announcement.
According to Themes ETF Trust, SPCH’s fee runs about 38% below what the issuer calls the industry average for comparable two-times long SpaceX funds, while SSPC’s fee is roughly 47% below average for comparable inverse products.
Defiance ETFs launched the Defiance Daily Target 2X Long SpaceX ETF (SPCU) and the Defiance Daily Target 2X Short SpaceX ETF (SPCQ), both on Cboe, each at a 1.31% expense ratio. According to Defiance ETFs, the SPCU provides traders with exposure to SpaceX’s AI infrastructure, Starlink broadband, and reusable rocket business.
Tradr ETFs launched the Tradr 2X Long SpaceX Daily ETF (SPCM) and the Tradr 2X Short SpaceX Daily ETF (SPCG), both on Cboe, at 1.49%, according to a Tradr ETFs announcement.
“Some traders see a transformational business with enormous growth potential, while others see a stock that may face high expectations and significant valuation questions,” said Matt Markiewicz, head of product and capital markets at Tradr ETFs. “We launched both SPCM and SPCG because active traders need tools that allow them to express either view with precision.”
More Issuers Join the SpaceX ETF Field GraniteShares launched two funds on Cboe: the GraniteShares 2x Long SpaceX Daily ETF (SPAL) at 1.5% and the GraniteShares 2x Short SpaceX Daily ETF (SNK) at 2.2%, the highest fee in the group.
REX Shares and Tuttle Capital Management launched the T-REX 2X Long SpaceX Daily Target ETF (SPAX) on NYSE Arca at 1.5%. According to REX Shares, SPAX gives traders two-times daily exposure to SPCX. The T-REX suite now covers more than 40 leveraged and inverse single-stock ETFs.
In a post on X, SpaceX thanked Tuttle Capital Management for handing over the SPCX ticker, a symbol the firm had used for one of its own ETFs before passing it to SpaceX for the Nasdaq listing, according to REX Shares.
Direxion, which describes itself as the largest issuer of single-stock ETFs in the U.S., also launched the Direxion Daily SpaceX Bull 2X ETF (LOFF), a long-only fund seeking two-times daily exposure to SPCX.
See more: Direxion Debuts Daily SpaceX Bull 2X ETF
For more news, information, and strategy, visit ETF Trends.
SpaceX has captured the attention of media, investors, and the public for years now — interest propelled by the company’s reusable rocket launches, the rise of its Starlink satellite network, and of course, for its founder and CEO Elon Musk.
But in its 24-year history, nothing quite compared to its initial public offering. Everyone seemed interested — perhaps because of the sheer size of the IPO. The company priced its 555.6 million shares at $135 each to raise $75 billion, making it the largest IPO in history and turning Musk into the world’s first trillionaire.
TechCrunch has followed SpaceX’s start, struggles, and successes from the early days. And we’re here for what happens next too. Here is your go-to landing page for all the relevant SpaceX IPO news, including notable updates now that the company is public.
SpaceX is now public. What’s next? On its first full day of trading, SpaceX shares pushed even higher. As of 2:30 pm ET, SpaceX shares were up more than 15% to $186.15.
The latest on the SpaceX IPO SpaceX shares opened June 12 at $150 on the Nasdaq public exchange, an 11% pop for the most anticipated debut in history. And it has continued to rise. The shares kept rising too. In midday trading, SpaceX shares soared 30%. SpaceX shares closed at $160.95, up 19%.
There has been heavy trading volume, as expected. Robinhood said it has seen “record-breaking traffic on its trading platform in the hours after SpaceX’s historic public markets debut.
SpaceX COO Gwynne Shotwell was interviewed by CNBC on June 12 and among the many interesting comments she made, here is one that might get the attention of Tesla shareholders. At one point in the interview, Shotwell said a “merger between SpaceX and Tesla might make Elon’s life a little easier.”
Among the winners are the banks, which have brought in about $500 million in total fees. The big winners are Goldman Sachs and Morgan Stanley, per the WSJ.
Musk took to X, the social media company he owns, to share his appreciation of SpaceX employees as the stock rose. “I love the incredible people of SpaceX beyond words,” he wrote Friday afternoon. He also reposted a number of SpaceX IPO related posts, including a photo of insiders all wearing green shoes in what appears to be a nod to “the green shoe option.” This is a provision in an IPO underwriting agreement that lets underwriters sell up to 15% more shares than originally planned if demand is strong.
To get a deeper look into what happened, and all the far-ranging implications of SpaceX now being a publicly traded company, Senior Reporter Sean O’Kane and AI Editor Russell Brandom sat down for a special episode of our Equity podcast, which you can listen to right here or via your podcast player of choice, or queue it up on YouTube here.
How to track the SpaceX IPO With an offering this large, there is a lot of financial machinery operating behind the scenes — so the first question is just when the stock makes it to the market to start trading. SpaceX is debuting on Nasdaq and you can see the official Nasdaq listing here, which will have the price of record as soon as there is one. Nasdaq also has video of the SpaceX crew ringing the bell, if that’s your thing.
But the price is just part of the picture. For the most up-to-the-minute information, your best bet is still financial press outlets like Bloomberg and CNBC, both of which have liveblogs running and will have close coverage of any hiccups that happen in getting the stock to market.
The SpaceX IPO, by the numbers Here we look at some of the bigger numbers, the consequential figures, and the eyewatering amounts that make up the company’s S-1 form.
For instance, SpaceX lost $4.9 billion on revenues of over $18 billion in 2025. That’s only a fraction of the more than $37 billion lost since SpaceX’s inception.
As CEO, Elon Musk holds about 85.1% of the company’s voting power. You can read more about that in the next section “Who wins and who doesn’t” — and we’ll continue to drop interesting numbers in here.
Here is another figure that caught our attention… 4,400. That’s the number of SpaceX employees who could become millionaires, according to the NYT.
Elon Musk can’t hear you over the sound of his $1.75 trillion IPO: The Equity podcast weighs in on the IPO.
Who wins and who doesn’t SpaceX is the world’s largest IPO in history and means a big payday for some investors, employees, and of course, Elon Musk.
Who will benefit most from SpaceX IPO? Mostly Elon — and a few from his inner circle: Elon Musk has the largest stake in SpaceX by billions of shares, but others also stand to win. Here’s the rundown of who owns what.
SpaceX SPV investors won’t know their true holdings until post-IPO lock-ups lift: After SpaceX makes its public debut, lower-tier SPV investors face hidden fees, lengthy payout delays, and the risk of outright fraud.
What’s in the S-1 The S-1 registration document gave the world an unprecedented look inside SpaceX, including its financials and its various businesses. The S-1 continued to be amended as the IPO date approached, and we were on it. Here is what we found.
The SpaceX IPO filing is filled with AI bets, Starship dreams, and Elon Musk at the center: The contents of the SpaceX IPO details a business dominated by its Starlink satellite internet offering, more than $37 billion in losses, and future business prospects through its xAI division.
Starship’s path to reusability looks murky after SpaceX’s S-1: SpaceX’s IPO and Starship rocket test flight delivered two big data points that offer a realistic vision for the coming years — and one that may disappoint both the company’s boosters and its critics.
SpaceX warns investors of future dilution, adding fuel to Tesla merger rumors: The company added new language to its S-1, a warning to prospective investors that a major dilution could be in the cards after it goes public.
Pre-IPO deals and events Leading up to the IPO, SpaceX locked in a string of deals, mostly selling off compute to improve its balance sheet.
Anthropic will pay xAI $1.25B per month for compute: Initial coverage of the Anthropic deal on May 20.
How long is Anthropic’s lease with SpaceX? Opinions vary: Elon Musk keeps downplaying the duration of SpaceX’s contract with Anthropic.
Google will pay SpaceX $920M per month for compute: A Google representative described the deal as a short-term deal addressing unexpected demand for its recently launched AI products.
This article originally published at 10 a.m. ET, June 12, 2026. It has been updated with new coverage of the SpaceX IPO, share price, and other related events.
When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.
SPCX stock is moving. See the chart and price action here. When Wall Street’s first coverage notes dropped ahead of last Friday’s IPO, the targets on SpaceX stock ranged from $165 to $190.
New Street Research analyst Pierre Ferragu set a $165 12-month target, representing 22% upside from the $135 offer price.
Wolfe Research followed with a $175 target and an Outperform rating, built on 16x projected 2028 sales and 54x 2028 EBITDA.
Oppenheimer came in most aggressive, initiating at Outperform with a $190 target — implying nearly 41% upside from the IPO price.
SPCX topped $176 intraday Friday, clearing both New Street’s $165 and Wolfe’s $175, before closing at $160.95. By Monday it was back near $170 — once again within striking distance of $175 and leaving only Oppenheimer’s $190 untested.
Only Oppenheimer’s $190 still offers meaningful near-term distance.
The $330 Bull CaseNew Street’s $330 bull-case scenario is the number that tends to stop investors cold.
It is not a 12-month target — it is a 2040 scenario anchored to a $20 trillion total addressable market for space, with SpaceX capturing 50% share, according to the New Street note.
The analyst's sum-of-parts base case breaks down to $650 billion for telecom, $575 billion for xAI, $650 billion for orbital data centers, $325 billion for owning the physical stack, and $100 billion for launch — totaling $2.3 trillion.
Getting to $330 requires SpaceX to hit $127.7 billion in AI revenue and $57.9 billion in connectivity revenue by 2030, implying a 60% revenue CAGR over five years, with EPS of $3.30 in 2030.
With Oppenheimer’s $190 still untested, the question heading into Day 2 is whether the stock consolidates at current levels or accelerates toward that mark.
SPCX Stock Price Activity: SpaceX shares are climbing, up 6.09% to $170.75 at the time of publication on Monday, according to Benzinga Pro data.
Photo: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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SpaceX (NASDAQ: SPCX) went public with the largest-ever IPO on Friday, June 12, and just one trading session later, artificial intelligence (AI) models are predicting a wide range of outcomes for the stock by the end of the month.
On average, Finbold’s AI prediction agent projects a SpaceX stock price target of $16.38 on June 30, 2026, which implies the model sees a 4.5% upside potential for the space company in the next two weeks compared to the current price of $161.13.
AI predicts SpaceX stock price for June 30. Source: Finbold However, the average price represents a joint projection of five leading large language models (LLMs), not all of which were equally bullish – or bullish at all.
AI SpaceX stock price prediction Specifically, our prediction tool combined the outputs of Claude Opus 4.6, DeepSeek Chat, Gemini 3 Flash, ChatGPT 5.2, and Grok 4.1.
Gemini was the most bullish model, forecasting a 13.23% rally and an SPCX share price target of $182.45. Claude and Grok were slightly less optimistic, although they still saw an upside potential of 7.06% and 8.3%, respectively, which would put the stock in the $172.5–174.5 range.
ChatGPT was much more conservative, with a price target of $164.2, up only 1.91% from the current levels. Completely bearish, on the other hand, DeepSeek sees the space leader’s stock plummeting 7.99% by June 30 and ending the month at $148.25.
AI sets SpaceX stock price target for June 30. Source: Finbold The divergent AI predictions illustrate the expected early volatility for a stock of such caliber. Even in the long run, some Wall Street analysts have already expressed some not-so-optimistic views, with, for example, CFRA analyst Keith Snyder saying the company’s current valuation reflects substantial optimism despite significant execution risks.
Featured image via Shutterstock
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SpaceX (SPCX +9.22%) stock began trading on Friday, and despite a high valuation out of the gate, it finished its first day up more than 19%, closing at a price of just under $161. Demand for the IPO was strong, as retail investors are bullish on the company, which is run by Elon Musk.
It has been one of the most highly anticipated new offerings, potentially ever. The momentum may very well continue in the days and weeks ahead, but it's also likely to be a volatile investment.
Is it a good idea to buy SpaceX stock right now, or should you hold off given the risks?
Image source: Getty Images.
It's an enticing opportunity, but it could be a bumpy road ahead In SpaceX's S-1 filing, it estimates its total addressable market to be $28.5 trillion. Between space, connectivity, and artificial intelligence (AI), it has some significant growth opportunities, and that potential is why investors may not necessarily balk at its high valuation; the belief is that the stock can still produce a great return in the long run.
But there's still risk here. While the opportunity may be enticing, that doesn't mean it'll be easy for SpaceX to rapidly grow its sales or generate significant profits. In its most recent quarter, for instance, which covered the first three months of 2026, its revenue rose by 15% to $4.7 billion. It's decent growth, but not exactly earth-shattering. Meanwhile, its net loss of $4.3 billion was eight times the $528 million loss it incurred in the prior-year period. As the business expands heavily into its different ventures, its costs may increase dramatically, making it difficult for SpaceX to get out of the red anytime soon.
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Why SpaceX stock may not be suitable for most investors SpaceX stock has a high valuation, with a market cap of $2.1 trillion that easily puts it among the most valuable companies in the world. It's surprising given its unimpressive financials. The stock may still rise higher, but that'll be indicative of the excitement around the business rather than solid, fundamental reasons to invest in the company.
For most investors, the safest option is to remain on the sidelines with SpaceX stock, because while it may be the hot new investment today, its high price tag could make it vulnerable to a steep sell-off and correction in the near future. This is only suitable for investors with a high tolerance for risk and uncertainty. There are plenty of other growth stocks that could make for better options today.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
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SpaceX underwriters have officially exercised their overallotment of shares in the historic initial public offering, bringing the total raised to $85.7 billion, according to an investor relations update out Monday.
Elon Musk's space and artificial intelligence company raised an initial $75 billion on Thursday, making it the biggest IPO ever.
SpaceX's brokers, which include Goldman Sachs and Morgan Stanley, had the option to buy an additional 83.3 million shares as part of the overallotment, which is commonly referred to as the "greenshoe."
The additional money raised in the SpaceX overallotment is bigger than almost all tech IPOs on record. Underwriters typically exercise the overallotment when the stock rises.
SpaceX staff wore green shoes on the trading floor Friday in a nod to the "greenshoe" option, and Musk re-shared a photo on X.
After pricing at $135 per share, the stock soared in Friday's debut, climbing 19%. The stock closed at around $161, pushing the company's valuation past $2 trillion.
Shares of SpaceX continued to climb on Monday morning, jumping more than 7% in their first full day of trading.
Read more CNBC tech newsA year after Meta tapped Alexandr Wang to build a new AI model, Zuckerberg has to sell itAnthropic disables access to Fable 5 and Mythos 5 to comply with government directiveFrom 10% chance of success to $2 trillion market cap: SpaceX's historic IPONew SpaceX millionaires are reinventing the business of managing large wealthMusk told employees gathered at SpaceX's Starbase headquarters in Texas on Friday that he wanted to take the company public now to raise capital for "a significant growth phase."
SpaceX is expected to use the funds to complete and begin commercially flying its Starship rockets, the largest ever built or launched. The rockets are designed to be fully re-usable someday, and to deploy SpaceX's new V3 satellites, which could massively expand their Starlink satellite internet service.
The rockets are still being tested and have mostly carried dummy satellites to space so far.
The company also aims to build, launch and run AI data centers in space, known as orbital data centers, and to build a massive chip factory with Musk's automaker, Tesla, and Intel in Texas. Musk has pitched space-based data centers as a solution to AI's power needs, though the technology remains unproven and comes with a host of associated risks.
SpaceX has a fraction the revenue of any of tech's megacaps and racked up a $4.9 billion loss last year, with total losses since its founding of over $41 billion. After the stock's close on Friday, SpaceX was worth $2.1 trillion, giving it a multiple of 112 times last year's revenue.
Item 1 of 2 A general view of a SpaceX building on the day of the company’s initial public offering (IPO), in Starbase, Texas, U.S., June 12, 2026. REUTERS/Gabriel V. Cardenas
[1/2]A general view of a SpaceX building on the day of the company’s initial public offering (IPO), in Starbase, Texas, U.S., June 12, 2026. REUTERS/Gabriel V. Cardenas Purchase Licensing Rights, opens new tab
June 15 (Reuters) - SpaceX (SPCX.O), opens new tab said on Monday that its underwriters had exercised the "greenshoe" option to purchase additional shares, increasing the total proceeds from its initial public offering to $85.7 billion from $75 billion that it raised last week.
Elon Musk's rocket, AI and internet conglomerate, which sold 555.56 million shares at $135 apiece to raise the record $75 billion, became the largest IPO in history even before the greenshoe option was exercised.
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The 'greenshoe' is a standard feature of most U.S. stock market listings that acts as a safety valve, helping underwriters support the stock and limit sharp price swings in the weeks after trading begins due to strong demand.
SpaceX's shares surged 19% after the blockbuster Nasdaq debut on Friday.
Reuters reported last week, citing sources, that the IPO had attracted more than $250 billion of investor orders, far exceeding the amount the company was seeking to raise. The IPO was oversubscribed by roughly three-and-a-half to four times, underscoring the extraordinary demand for the offering.
The debut, which analysts described as a "Goldilocks" stock market entry, hit the sweet spot of rewarding investors with a strong first-day gain, while avoiding the perception that the company had left significant money on the table by pricing the offering too conservatively.
Its shares rose another 7% in early trading on Monday, adding to the strong gains recorded in Friday's historic market debut, which lifted the company's market capitalization above $2 trillion and made Musk the world's first trillionaire.
Underwriters typically exercise the greenshoe option when a stock trades above its IPO price. SpaceX said its underwriters purchased 83.3 million additional shares through the option.
The greenshoe option is typically exercised in IPOs that have generated extraordinary demand from both Main Street and Wall Street investors.
"Demand significantly outstripped the initial supply. Retail interest was high, but several major funds submitted massive orders, so underwriters wanted to tap the overallotment to satisfy these massive positions," said Brian Jacobsen, chief economic strategist at Annex Wealth Management.
The deal has shattered IPO records and become an early test of investor appetite for a new wave of mega-listings, with AI heavyweights Anthropic and OpenAI reportedly expected to follow it into the public markets later this year.
Goldman Sachs and Morgan Stanley were the lead underwriters for the offering.
Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Manya covers the most influential U.S. financial institutions, from Wall Street’s largest banks and card networks to leading asset managers and fintech companies. She also reports on late-stage venture capital fundraises, initial public offerings on U.S. exchanges and regulatory developments shaping the cryptocurrency industry. Her work appears across the finance, markets, business and future of money sections of the Reuters website. She holds a bachelor’s degree in political science from the University of Delhi and a master’s in journalism from the Symbiosis Institute of Media and Communication.
SpaceX shares surged again on Monday, extending gains from their blockbuster market debut as investors continued to pile into Elon Musk's rocket and artificial intelligence infrastructure company.
Shares of SpaceX, trading under the ticker SPCX, rose 8% in early trading to $173.67 after jumping 19% during their first day on the Nasdaq on Friday.
The broader market was also higher, with the S&P 500 gaining 1.5% amid optimism surrounding a potential agreement to end the Iran war.
One of the reasons the stock is surging higher today is that many expect the firm to join the Nasdaq-100 within days.
The move would make it a significant component of exchange-traded funds and other passive investment vehicles that track the benchmark.
Analysts estimate that inclusion could drive between $7 billion and $10 billion in passive inflows as index funds and ETFs adjust their holdings.
Newly public companies must wait at least 12 months before they can be considered for inclusion in indexes maintained by S&P Dow Jones Indices.
The strong follow-through came after underwriters exercised their overallotment option, increasing the total amount raised through the initial public offering to $85.7 billion.
The debut marked the largest IPO on record and attracted heavy trading activity, with more than 500 million shares changing hands on the first day.
SpaceX's early gains have coincided with a broader rotation into high-growth technology and artificial intelligence-linked companies.
Memory-chip maker Micron Technology was among the few stocks outperforming SpaceX in early trading, while Seagate Technology and Western Digital also posted gains of more than 5%.
Nvidia stock was also up around 2% in early trade.
Investor enthusiasm was further boosted by comments from Musk over the weekend.
Responding to a social media post on X referencing a Morgan Stanley revenue forecast, Musk suggested SpaceX revenue could exceed $1 trillion by 2030.
The target would be more than three times higher than Morgan Stanley's projection and would represent a roughly 66-fold increase from the company's 2025 revenue level.
A major component of that growth strategy is expected to come from artificial intelligence infrastructure.
SpaceX plans to begin deploying orbital AI data centers in 2028.
The company's terrestrial data-center operations, which were previously owned by xAI before being merged with SpaceX in February, currently rent computing capacity to customers, including Anthropic and Google.
Cathie Wood's ARK Invest emerged as one of the most notable buyers following the listing.
The investment firm purchased nearly 3.3 million SpaceX shares during the company's first trading session, building a position valued at more than $500 million by the close of trading.
SpaceX shares were sold in the IPO at $135 and finished their first session at $160.95, representing a gain of more than 19%.
The ARK Innovation ETF accounted for most of the purchases and ended the day with SpaceX representing 3.28% of its portfolio.
Despite the strong start, not all analysts are convinced the rally is sustainable.
CFRA initiated coverage of SpaceX on Friday with a Sell rating and a 12-month price target of $115, implying significant downside from current levels.
The research firm cited the company's aggressive growth plans, elevated valuation expectations, and substantial capital requirements.
Morningstar analyst Nicolas Owens also expressed caution in a June 8 note, valuing SpaceX at $63 per share and describing the stock as overvalued.
Even as skeptics question the valuation, investors appear focused on the company's long-term ambitions in launch services, satellite communications, artificial intelligence infrastructure, and future orbital computing networks.
A CNBC segment that ran last week opened with a sentence you do not normally hear from a buyer. “It’s stupid. It’s unreasonable… The valuation is really, really aggressive, in my opinion,” said Marvin Jung, a regional director of operations in veterinary care. Then he told CNBC he had requested roughly 1,000 shares of SpaceX through Robinhood anyway. That gap, between what retail investors are saying and what they are doing, is the actual story of the IPO.
Why analysts call the $2.1 trillion price aggressive SpaceX is now public at a $2.1 trillion valuation. A Morningstar analyst told CNBC the company has been “significantly overvalued” and that investors will likely find better prices later. The Connectivity segment, mostly Starlink, did $11.4 billion in 2025 revenue with $7.17 billion in segment adjusted EBITDA; revenue grew 49.8% year over year. That is a real business.
The AI segment, formed by the February 2026 acquisition of xAI, posted a 2025 loss from operations of $6.35 billion on $3.2 billion in revenue, with first-quarter 2026 AI capex alone of $7.7 billion. Mid-roadshow, SpaceX disclosed roughly $26 billion in new annual revenue from Anthropic and Google partnerships, which hardened conviction.
The retail archetypes lining up for shares What makes this IPO unusual beyond size is the allocation. Per CNBC, 20% to 30% of shares are going to retail, well above the normal sliver. Three archetypes are showing up. The short-term pop chaser, hoping to flip day-one demand.
The cautious position-taker, capping exposure at around $10,000 or two shares, treating it as a small lottery-ticket position. And the long-term believer, like recent Cornell graduate Andrew Chen, who told CNBC he wants to “underwrite Elon’s ability to execute in this growing TAM” and called it a “once in a lifetime opportunity.”
The Musk premium and the AI infrastructure bet Day trader Ross Cameron, founder of Warrior Trading, put the bull case in a line to CNBC. The IPO “would be overvalued if it didn’t include Elon Musk… because it includes Elon Musk… It doesn’t really make sense on paper, but this is the right market environment.” CNBC kept returning to the reframing that “SpaceX is not one business… it’s three businesses” across communications, launch, and AI infrastructure. Eric Jackson of The AI Investor Podcast said he would not buy on day one or even in the first month, citing the low float and pent-up demand bottleneck.
Admiration plus patience is the Morningstar posture too. The Musk premium is real, but so is the dilution risk if xAI keeps consuming cash faster than Starlink can throw it off. Retail buyers who treat the IPO as a venture-style bet rather than a public-market trade are the ones most likely to come out ahead, because the path from a $1.8 trillion entry price to a higher one almost certainly runs through several years of messy quarterly prints.
Where Rocket Lab fits into the trade For investors who do not get an allocation, Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) has been the de facto SpaceX proxy. Q1 revenue hit $200.35 million, up 63.46% year over year, with backlog at a record $2.20 billion and CEO Peter Beck citing “access to more than $2 billion in liquidity” in the 8-K filed May 7, 2026. The Neutron medium-lift rocket will likely debut later in 2026. Reddit sees the stock as the cheaper executable version of the SpaceX trade.
The risk both stocks share is execution. SpaceX must turn xAI capex into AI revenue, Starship into a reliable workhorse, and Starlink growth into something durable enough to justify a software-like multiple. Rocket Lab has to land Neutron’s debut later in 2026, integrate three acquisitions without margin slippage, and convert that $2.2 billion backlog into recognized revenue on schedule. Retail investors who get SpaceX allocations should also keep an eye on the eventual lock-up expiration, when early shareholders sitting on enormous private-market gains finally get to sell. That is when the Morningstar “better prices later” thesis gets tested in public, and when the RKLB-as-proxy trade either gets validated or quietly unwinds.
SpaceX’s historic IPO just got super-sized, after the public offering’s underwriters exercised their option to purchase the maximum amount of shares — bringing the total amount raised to $85.7 billion.
Elon Musk’s space-and-AI company had initially raised $75 billion, which was already enough to make it the largest IPO windfall ever.
SpaceX has said it plans to use the proceeds from this IPO in a variety of ways. The company plans to extinguish around $20 billion in debt related to legacy loans tied to X, the social media company formerly known as Twitter, and Musk’s AI company xAI — both of which were combined into SpaceX before the IPO.
Funds will also be used to expand SpaceX’s AI compute infrastructure, enhance its launch infrastructure, and improve Starlink.
SpaceX’s stock started trading on the Nasdaq exchange on Friday. The company finished the day with a valuation of more than $2 trillion, and Musk became the world’s first trillionaire. Shares climbed higher on Monday, helping SpaceX eclipse the valuation of chipmaker TSMC.
Yet the significance of this IPO extends far beyond the company’s first-day gains. For investors, the listing represents a major test of market appetite for high-growth businesses that prioritize long-term expansion over near-term profitability. It may also provide a roadmap for a new generation of public offerings, particularly from the artificial intelligence sector.
The enthusiasm surrounding SpaceX reflects investor confidence in the company’s long-term vision rather than its current earnings profile. Since its founding in 2002, SpaceX has accumulated substantial losses while investing heavily in launch systems, satellite infrastructure and next-generation space technologies. However, management argues that years of investment are beginning to generate meaningful returns.
A key pillar of that strategy is Starlink, the company’s satellite internet network, which has become a significant source of recurring revenue and cash flow. The proceeds raised through the IPO are expected to accelerate an ambitious expansion plan that includes a dramatic increase in satellite deployment and the development of space-based computing infrastructure.
Investors are effectively betting that SpaceX can evolve from a successful aerospace company into a foundational provider of global communications and computing services. This vision helps explain why the market has been willing to assign such a lofty valuation despite the company’s limited profitability.
Retail investors also played a major role in the stock’s debut. Individual traders accounted for an unusually large share of demand, reinforcing the strong retail participation that has become a defining feature of modern financial markets. The combination of a globally recognized brand, Elon Musk’s reputation and the scarcity of publicly traded space-related investments created conditions for exceptional first-day demand.
Why Volatility Could Remain Elevated While the IPO’s success has generated excitement, investors should also prepare for significant volatility in the weeks and months ahead. Historically, many high-profile listings experience sharp price swings after their initial surge. Early enthusiasm often collides with the realities of valuation, profit expectations and changing market sentiment.
These mandatory purchases could create additional upward pressure on the stock price in the short term. However, such flows are technical rather than fundamental, meaning they may not necessarily reflect changes in the company’s underlying business performance.
For retail investors, this distinction is important. Strong demand from index funds can support a stock temporarily, but long-term returns ultimately depend on revenue growth, profitability and operational execution.
What the SpaceX IPO Means for OpenAI and Anthropic Perhaps the most important consequence of the SpaceX listing is what it signals for the broader IPO market. For several years, high interest rates and economic uncertainty limited the number of large technology companies willing to go public. The strong reception received by SpaceX suggests that investor appetite for disruptive growth stories remains intact, particularly when companies operate in sectors viewed as transformational.
This development is likely to be closely watched by OpenAI and Anthropic, two of the most anticipated future listings in the artificial intelligence industry. Unlike SpaceX, these companies are positioned at the center of the generative AI boom and benefit from rapidly expanding commercial adoption. Their revenue growth trajectories may therefore appear more immediately attractive to investors seeking exposure to artificial intelligence.
However, the comparison is not entirely straightforward. SpaceX enters public markets with more than a decade of investor familiarity with Elon Musk as the leader of a publicly traded company. Many investors who generated substantial returns from Tesla are willing to extend a similar degree of trust to his latest venture.
OpenAI and Anthropic do not yet possess that same public-market track record. As a result, investors may place greater emphasis on governance structures, management execution and the path toward sustainable profitability. This difference could lead to even greater volatility once these companies eventually begin trading.
Can Fundamentals Catch Up With Valuations? The success of the SpaceX IPO highlights a familiar pattern in financial markets. During periods of optimism, investors often focus on future opportunities rather than current earnings. SpaceX, OpenAI and Anthropic all share a common characteristic: they operate in industries with enormous potential but require extraordinary levels of capital investment. As a result, profitability remains elusive despite rapid revenue growth.
For now, investors appear comfortable funding these long-term ambitions. The belief is that today’s losses represent investments in infrastructure that could eventually support dominant market positions. Nevertheless, history suggests that enthusiasm alone cannot sustain valuations indefinitely. Public companies ultimately face scrutiny from shareholders who expect measurable progress toward profitability and cash generation.
Research on high-growth listings has consistently shown that companies trading at extreme revenue multiples often struggle to justify those valuations over time. While some become transformative market leaders, many eventually face significant repricing as investors reassess expectations. The challenge for SpaceX—and potentially for future AI listings—will be demonstrating that revenue growth can eventually translate into durable earnings power.
Conclusion The SpaceX IPO could be more than a successful market debut; it may mark the beginning of a new phase for global equity markets. Its record valuation, extraordinary investor demand and rapid ascent into the mega-cap universe have reopened discussions about how much investors are willing to pay for long-term innovation. The listing also provides an early indication of how public markets may respond to the next generation of AI giants. If SpaceX has reopened the door for transformative growth companies, OpenAI and Anthropic could be the next major beneficiaries.
For investors, however, the lesson remains unchanged. Exciting narratives can drive valuations higher in the short term, but long-term shareholder returns ultimately depend on execution. The coming years will reveal whether these ambitious companies can transform extraordinary expectations into equally extraordinary financial results.
HomeInvestingStocksIPO ReportIPO ReportUnderwriters on the already record-breaking IPO exercised the ‘greenshoe’ option to buy another 83 million sharesPublished: June 15, 2026 at 11:38 a.m. ET
SpaceX shares are pushing higher in their second day of trading after the company disclosed that its record haul of initial-public-offering proceeds was an even bigger sum than first recorded.
The company included what’s called a greenshoe option in its offering, allowing underwriters of the IPO to buy additional shares at the IPO price of $135 per share. SpaceX said that its underwriters had decided to fully exercise that option, buying 83.3 million further shares.
June 15, 2026 11:39 ET | Source: Purpose Investments Inc.
TORONTO, June 15, 2026 (GLOBE NEWSWIRE) -- This release corrects and replaces the press release issued on June 15 at 1601 Eastern Time. In the third paragraph, Nick Mersch's name was misspelled Mersh. The corrected release follows:
Purpose Investments Inc. (“Purpose”) is excited to announce the expansion of its Yield Shares suite with the launch of the Purpose SpaceX (SPCX) Yield Shares ETF, which begins trading today on Cboe Canada under the ticker SPXY.
The new ETF offers investors exposure to SpaceX and is designed to generate enhanced* monthly income through a diversified covered call strategy on approximately 50% of the portfolio, combined with modest leverage of approximately 25%.
“SpaceX is one of the most influential companies shaping the future of space exploration and advanced technology, and Canadian investors have been looking for a simple way to access its growth potential,” said Nick Mersch, Portfolio Manager at Purpose Investments. “SPXY gives investors access to that opportunity while providing enhanced monthly income through a strategy focused on long-term total return.”
As investor demand continues to grow for single-stock income strategies, SPXY expands Purpose’s Yield Shares suite into one of the most anticipated public market opportunities, offering investors a new way to access innovation, growth potential, and monthly income in a single ETF.
Key Benefits:
Growth Potential: Gain exposure to the long-term growth opportunity of SpaceX, a leader in the commercial space industry.Monthly Income: Designed to generate enhanced monthly income through a diversified covered call strategy written on approximately 50% of the portfolio.Modest Leverage: Uses approximately 25% leverage to enhance exposure and support the fund’s income objective.Tax-Efficient Distributions: Distributions are expected to be in the form of capital gains and/or return of capital, which are typically taxed more favourably than interest income.Canadian Dollar Hedged: The Fund will be 100% hedged back to the Canadian dollar, reducing U.S. dollar currency risk for investors.
With the addition of SPXY, the Purpose Yield Shares suite has grown to feature 30 ETFs, offering an array of yield-focused strategies across Canadian, U.S. and crypto assets. The new addition reinforces Purpose Yield Shares as a leading option for investors seeking monthly income and total return from their favourite stocks and digital assets.
About Purpose Investments
Purpose is the manager of the ETF. Purpose is an asset management company with more than $31 billion in assets under management. Purpose has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.
*Purpose Yield Shares funds provide "enhanced" or higher yields in the form of additional monthly distributions compared with the underlying common stock, which pays a relatively lower or no distribution yield.
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SpaceX Says Historic IPO Raised More Than $85 Billion Ty Roush is a breaking news reporter based in New York City.
Jun 15, 2026, 11:33am EDT
ToplineSpaceX’s record-setting initial public offering raised more than $85 billion, the company announced on Monday, after the banks behind the debut sold additional shares that had been set aside to match strong investor demand.
Wall Street banks sold extra shares set aside for stronger investor demand, Elon Musk’s firm said.
dpa/picture alliance via Getty Images
Key FactsBrokers behind SpaceX’s IPO—Goldman Sachs and Morgan Stanley, among others—purchased an additional 83.3 million SpaceX shares, bringing the total raised to $85.7 billion as of Monday, the company said.
Shares of SpaceX, trading for their first full day, jumped another 7.5% on Monday morning after surging 19% in its debut last week.
SpaceX (SPCX, Financials) is back in focus after Elon Musk said the company could generate $1 trillion in revenue by 2030, just days after its record-setting IPO.
Musk made the comment on X, adding that he would be surprised if revenue was not above $1 trillion in 2031.
The statement gives investors another big number to consider after SpaceX went public at a valuation above $2 trillion. The company is now one of the most valuable U.S. businesses, but its current revenue is still much smaller than other companies with similar market values.
SpaceX reported 2025 revenue of $18.67 billion, up from $14.02 billion a year earlier. It also posted a net loss of $4.94 billion.
Wall Street appears more cautious. Goldman reportedly expects SpaceX revenue to top $470 billion in 2030, while Morgan Stanley sees nearly $330 billion.
For investors, the story is simple: Musk is selling a massive growth vision, but SpaceX still has to prove it can scale revenue and move toward profitability.
Kingdom Holding rose after SpaceX's 19% debut gain lifted its stake value to $6.8 billion. Summary
Gulf investors are gaining fresh exposure to Musk’s space and AI ecosystem.
SpaceX's SPCX public-market debut is already creating a major mark-to-market boost for Gulf investors, with Prince Alwaleed bin Talal's Kingdom Holding Co. rising at Sunday's open after the rocket and satellite company's first-day share surge lifted the value of its stake to almost $7 billion. Kingdom Holding said it owns 42.4 million SpaceX shares, valued at $6.8 billion based on the company's closing price, representing roughly half of Kingdom's own market capitalization. Kingdom shares rose as much as 5%, valuing the Saudi investment firm at 56 billion riyals, or $14.9 billion, showing how SpaceX's listing could be reshaping investor attention around Gulf-linked technology exposure.
SpaceX, formally known as Space Exploration Technologies, began trading on Friday after raising $75 billion in the largest listing of all time. The stock closed up 19% at $160.95, delivering tens of billions of dollars in returns for a small group of early investors. Founders Fund, led by Elon Musk's longtime associate Peter Thiel, owns roughly 3% of SpaceX, while Andreessen Horowitz is set to receive the biggest return in its history, and Sequoia Capital, which first backed SpaceX at the end of 2019, owns about 1.5% of the company. Kingdom Holding previously said its stake represents 0.34% of SpaceX, while Prince Alwaleed's personal exposure amounts to about 0.29%, helping lift his net worth to just over $27 billion, a decade-high, according to the Bloomberg Billionaires Index.
The SpaceX listing could also strengthen Saudi Arabia's wider exposure to Musk's expanding technology ecosystem, especially as the $1 trillion Public Investment Fund owns a stake in Kingdom Holding and backs Humain, an AI firm that invested $3 billion into Musk's xAI this year as part of a $20 billion funding round. Humain said at the time that its significant minority stake in xAI would convert into SpaceX shares, adding another possible layer of upside tied to the debut. Regional capital has also been moving deeper into AI, with Abu Dhabi's MGX holding stakes in Anthropic, OpenAI and xAI, while Qatar has invested in both Anthropic and xAI. For investors, SpaceX's first trading session is possibly becoming more than a space IPO story — it could be a fresh signal that Gulf capital is increasingly tied to the next phase of AI, space and private technology monetization.
SpaceX's $2 trillion initial public offering is so far crowning more winners than losers.
One of them is arguably blockchain-based exchanges like Hyperliquid and Binance, which offered perpetual futures on SpaceX in the lead-up to the IPO.
Perpetual futures, or "perps" as they're called among traders, are derivative contracts with no expiration date that have gained popularity with international traders and are increasingly becoming a part of U.S. market structure. The CFTC recently approved prediction market operator Kalshi to trade bitcoin perps.
Perp market traders had a form of early access to SpaceX, and the trading closely aligned with later prices in the stock market.
As bankers hustled behind closed doors to price the deal and reporters indicated a first price of as high as $175, SpaceX perp-traders on Hyperliquid were buying and selling futures as high as $180 around the opening bell and as low as $153 just before the first trade came in at $150.
"Where there's opportunity for liquidity, savvy people will find ways to get it," said David Schamis, founding partner at Atlas Merchant Capital and CEO of Hyperliquid Strategies, a Treasury reserve strategy that owns Hyperliquid cryptocurrency tokens. "This is not just retail people punting for the fun of it. The perps are leading and so far those that have been listed before IPOs have done a pretty damn good job."
More than 7 million SpaceX perps traded on Hyperliquid on Friday for more than $1.2 billion in volume, according to exchange data compiled by CNBC. Meanwhile, about 500 million shares of SpaceX traded in its debut session.
After hitting a high of $176.52, the stock closed at $160.95, giving SpaceX a Day-1 market capitalization of over $2.1 trillion.
SpaceX, 1 day
The accuracy of the perp pricing for such a high-profile event keeps pressure on traditional exchanges who have to keep up with the rapid evolution of investment products and asset classes like event contracts and perpetual futures.
Earlier this month shares of CME, Cboe and Nasdaq all slid when event-contracts giant Kalshi announced it will offer perpetual futures under the supervision of the Commodity Futures Trading Commission.
To be sure, by "traditional finance" standards, the SpaceX IPO went about as smooth as it could, particularly given the deal's unprecedented size.
"The bankers priced it perfectly – not too high, not too low," Jared Dillian, author of the Daily Dirtnap, said via phone. "You want a little bit of a pop on the IPO to reward shareholders but if it's too big a pop, SpaceX would have left money on the table. I was impressed. There were no trading problems. It went off without a hitch."
For cryptocurrency advocates, providing a whole new dimension of trading for the world's biggest stocks and securities on "decentralized" exchanges like Hyperliquid is a much-needed success story for blockchain technology as a serious Wall Street disruptor. Bitcoin's been underperforming stocks for over a year-and-a-half, and digital asset Treasury companies like Strategy have gotten pummeled.
Meanwhile, Hyperliquid's own tradeable token is up over 150% this year, according to CoinMarketCap data.
"Perps are the best way to bring real-world assets on-chain," Atlas's Schamis said. "Bitcoin may go up, might go down, who knows, but the crypto rails built around it are what's really going to endure for many years. Hyperliquid is by far the best example of that."
Early SpaceX investor Ron Baron wasn't taking profits during its blockbuster stock-market debut. He was buying more.
The billionaire investor said Baron Capital purchased an additional $1 billion worth of SpaceX shares Friday during the company's initial public offering, increasing the firm's position in Elon Musk's rocket and satellite company to roughly $25 billion.
The purchase marks a fresh vote of confidence from one of SpaceX's earliest and most enthusiastic institutional backers, even after the company's valuation soared to $2 trillion.
"I think we're going to make hundreds of billions of dollars," Baron said Monday on CNBC's "Squawk Box." "What they've done isn't possible for anyone else to accomplish. Not possible. And so he's at least 10 years ahead of everyone else, as far as making satellites, as far as making rockets, as far as building networks."
Baron said he participated in the IPO to maintain his firm's ownership percentage as the company sold new shares to the public.
"I didn't want to get diluted," Baron said. "I wanted a billion dollars to keep our percentage the same ... I'm an investor in a business. I'm not buying and selling or trading."
Baron first invested in SpaceX in 2017 through employee tender offers when the company was valued at less than $22 billion and has since participated in 27 funding rounds.
As of March 31, SpaceX accounted for 33% of assets in the $10.4 billion Baron Partners Fund and 25.5% of the Baron Asset Fund. Combined with the firm's sizable position in Tesla, about half of the assets in some Baron portfolios are tied to companies led by Musk.
Baron acknowledged that SpaceX's valuation has climbed dramatically since his initial investment, but said he believes the company's growth potential remains vastly underappreciated.
"I think that with now being valued at $2 trillion, I think it's going to be valued in 10 years at $20 trillion, $30 trillion, $40 trillion," Baron said.
The veteran investor argued that Musk's ambitions extend beyond building a successful aerospace company.
"Normally, our economy doubles roughly every 10 years," he said. "What he thinks is, by the innovations and the work that he's doing, he's going to make the economy grow 10 times in 10 years, not double."
An El Al aircraft parked at Phuket International Airport, following regional airspace closures amid the U.S.-Israel conflict with Iran, in Phuket, Thailand, March 3, 2026. REUTERS/Napat... Purchase Licensing Rights, opens new tab Read more
JERUSALEM, June 15 (Reuters) - El Al Israel Airlines (ELAL.TA), opens new tab has signed a deal with Elon Musk's Starlink to make high-speed internet available across its fleet starting next year, the airline said on Monday.
Financial details of the agreement were not disclosed.
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Israel's flag carrier said SpaceX's (SPCX.O), opens new tab Starlink service would be offered free of additional charge and would allow hundreds of customers to connect simultaneously, including on long-haul flights.
Global airlines are pushing to attract premium customers, and fast in-flight Wi-Fi has become an increasingly important perk.
Starlink, which operates around two-thirds of all satellites in space and is the major driver of revenue for SpaceX, had as of last week signed up 11 new airline customers so far in 2026. It faces competition from Amazon (AMZN.O), opens new tab.
"The integration of Starlink technology into El Al aircraft is a significant step forward, allowing customers to stay connected in the air, enjoy live streaming and continue to work and communicate smoothly and without interruption," said El Al Chief Executive Levy Halevy.
The airline has a relatively new long-haul fleet of Boeing (BA.N), opens new tab 787 Dreamliner aircraft that is expected to continue growing in the next few years while it also expands its route network. It also has ordered Boeing 737 MAX aircraft for flights to Europe.
Since the Gaza war began in October 2023, El Al has faced limited competition and seen its profits rise as many foreign carriers suspended flights to Israel, though that is expected to change if an agreement between Washington and Tehran to halt the Iran war holds.
Key U.S. rivals Delta and United have already said they would resume flights to Tel Aviv in September.
Starlink, which uses thousands of low-Earth-orbit satellites rather than larger, slower geostationary satellites, is multiple times faster than legacy systems, according to Ookla, a broadband analytics firm.
Reporting by Steven Scheer; Editing by Kirsten Donovan and Joe Bavier
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Ron Baron, Baron Capital founder, CEO and portfolio manager, joins 'Squawk Box' to discuss the historic SpaceX IPO, Elon Musk's mission with the company, and more.
Elon Musk sat for a CNBC segment last week ahead of the largest IPO in history, and he did something a little odd for someone about to ask public markets for close to $75 billion. He talked about science fiction novels.
The improbable origin in an El Segundo warehouse Musk told CNBC he gave SpaceX (NASDAQ:SPCX) “less than a 10% chance of succeeding at all” when he started it, and figured “we should give it a try because if we don’t… we will never be a truly spacefaring civilization.” He credited COO Gwynne Shotwell as an early partner and recalled the company’s first home, a warehouse in El Segundo. “SpaceX was less than 10 people back then. We didn’t even have office furniture,” he said earlier this month.
SpaceX has raised over $9 billion of equity capital since its 2002 founding to fund Space and Connectivity. The Space segment became Adjusted EBITDA positive on a sustained basis in 2018, and Connectivity got there in 2023. From that warehouse to over 9,600 Starlink satellites in Low-Earth Orbit serving 164 countries is the operational base public buyers are being asked to underwrite.
Taking the fiction out of science fiction “That’s what SpaceX is all about, is to take the fiction out of science fiction and create an exciting, inspiring future for everyone,” Musk told CNBC. He acknowledged that Earth’s problems still deserve attention while arguing that inspiring visions of the future are necessary alongside that work.
The framing is consistent with his recent posts. Musk has been talking up a “major base on the Moon” and arguing humanity must secure “the long-term future of consciousness, both on Earth and other heavenly bodies” against meteor strikes and nuclear war. Whether mission talk justifies the valuation is the question buyers actually have to answer.
Democratizing the trip to the Moon and Mars Musk also pushed the democratization angle on CNBC, saying SpaceX wants to fly “anyone” to the Moon, Mars, and eventually beyond. The IPO itself follows similar logic at the cap table. JPMorgan CEO Jamie Dimon is leading a nationwide pitch to thousands of the bank’s wealthiest private-banking clients, which counts as democratization only if you squint, while retail access runs through Morgan Stanley’s retail allocation role alongside Goldman Sachs as lead-left and JPMorgan and Bank of America rounding out the syndicate.
Then there are the ETFs. ARK Space & Defense Innovation, Procure Space, and Tema Space Innovators are positioned to add SPCX exposure quickly once shares trade on NASDAQ. The plumbing for “anyone” to own a piece is being laid in real time.
What mission framing means for IPO buyers SpaceX generated $18.67 billion in 2025 revenue with a loss from operations of $(2.59) billion and Adjusted EBITDA of $6.58 billion, per the S-1 on file with the SEC. The first quarter of 2026 showed $4.69 billion of revenue against a $1.94 billion loss from operations and $1.13 billion in Adjusted EBITDA. The recent xAI acquisition added both compute ambition and cash burn to that mix.
Skeptics are loud. Michael Burry compares the SpaceX, OpenAI, and Anthropic frenzy to the dot-com bubble. Former Lehman trader Larry McDonald calls the valuations “astronomically unrealistic” and warns rapid index inclusion could rope passive retirement money into the trade at the top. NYU’s Scott Galloway flags the “supply flood” risk as Anthropic and OpenAI line up behind SpaceX, suggesting one of these debuts could give back 80%.
Buyers of SPCX would be funding a thesis that orbital data centers, millions of AI compute satellites deployable as early as 2028, Starship reusability, and cellphone-direct Starlink can all compound into something that justifies the price.
