On June 12, SpaceX will open its doors to public investors for the first time, and the hype is stratospheric. With an initial public offering price of $135 per share for its 555.5 million shares, Elon Musk’s space venture is valuing itself at a staggering $1.75 trillion. That would make it the largest IPO in history, dwarfing Alibaba’s $22 billion debut in 2014. But here’s the catch: SpaceX lost $4.9 billion in 2025 and another $4.3 billion in the first three months of 2026. So, should you buy in?
The stock will trade on the Nasdaq under the ticker SPCX, and it’s already creating a frenzy. Fast-tracked for inclusion in the Nasdaq-100 and Russell 1000 indices, SpaceX could join the Russell 1000 just five trading days after listing and the Nasdaq-100 as early as 15 days later. That means retirement funds tracking these indices will be forced to buy shares, potentially driving up demand.
But some investors are nervous about pouring money into a company bleeding cash. Analysts, however, say not to panic. The key is free float—the number of shares actually available for public trading. SpaceX’s total market cap may be $1.75 trillion, but its free float is much smaller. Franklin Templeton’s Dina Ting notes that FTSE Russell’s preliminary analysis assumed a total market cap of $1.5 trillion but an available market cap of just $70 billion, giving SpaceX a mere 0.11% weighting in the Russell 1000. That’s hardly enough to rock a diversified portfolio.
Over time, that weighting could grow as lockup restrictions expire, allowing insiders like founders and early investors to sell. But for now, expect volatility. Alex Michalka of Wealthfront warns that newly public companies are historically volatile, and SpaceX is unique—no company has ever gone public with this valuation and this mix of aerospace, social media, and AI businesses. There’s no benchmark to compare it to.
Armando Pantoja, known as the Tall Guy Tycoon, says the stock will likely pop when funds buy in, but could dip once lockups expire. “If you can handle the volatility and understand the risk, long-term, the stock has extraordinary potential,” he says, pointing to Musk’s vision of changing human civilization.
Steve Azoury, a financial adviser, adds that if fund managers buy shares on your behalf, you might snag them at the IPO price. As long as SpaceX isn’t a huge chunk of your portfolio, he believes the bet on Musk will pay off. “The guy has a track record. He’s the richest man in the world. He must know what he’s doing. Go along for the ride.”
