Starlink
The world's largest satellite broadband network. Crossed 10.3M subscribers in Q1 2026, adding 750K–1.5M per month. The cash engine that anchors the valuation.
$11.4B FY25 · +50% YoY · $4.4B operating income
Live · Nasdaq:SPCX · Updated July 10, 2026
SpaceX is public. Now comes the hard part.
Space Exploration Technologies Corp. made its Nasdaq debut under SPCX on June 12, 2026 — priced at $135.00 on 555,555,555 Class A shares, a $75 billion raise and the largest IPO in history. The first month has been a round trip: a euphoric rally to an all-time high of $225.64 on June 16 (briefly a ~$3 trillion market cap), then a ~35% correction to an all-time low of $145.20 on July 8 amid the Colossus 2 data-center lawsuit that threatens SpaceX's $45 billion Anthropic compute contract. SPCX joined the Nasdaq-100 on July 7 and has stabilized near $153 — still +13% above the IPO price — ahead of its first earnings report, expected in early August.
SPCX is live — now trading on Nasdaq
Ticker
SPCX
Nasdaq Global Select & Nasdaq Texas
Last Price
$153.15
+13.4% vs. $135 IPO · Jul 9 close
Market Cap
~$2.0T
Peaked near $3T on June 16
Post-IPO Range
$145–226
Low Jul 8 · High Jun 16 · −35% off peak
2025 Revenue
$18.67B
+33% YoY
Index Member
NDX-100
Added July 7, 2026 · ~1.3% weight
Live Dashboard
NASDAQ:SPCX — Price, fundamentals & analysis
Company Profile
Fundamental Data
Technical Analysis
Latest SPCX News
Charts and data provided by TradingView. Not a recommendation. See disclaimer.
The Filing
FULL IPO DETAILS →
SPCX IPO timeline at a glance
Apr 1, 2026
Confidential S-1 filed
SpaceX submits draft registration to the SEC.
May 20, 2026
Public S-1 released
First public look at SpaceX financials, ownership, risks.
Jun 8, 2026
Roadshow opens
Institutional marketing across NYC, London, Hong Kong.
Jun 11, 2026
Pricing confirmed
$135.00 confirmed on 555.6M shares — demand topped $250B, ~4× oversubscribed.
Jun 12, 2026
Trading begins
SPCX opens at $150 on Nasdaq, closes at $161.11 (+19.3%). Market cap tops $2T.
Jun 16, 2026
All-time high $225.64
The post-IPO rally peaks. SPCX briefly commands a ~$3T market cap — past Amazon and Microsoft — before sellers take over and a weeks-long correction begins.
Jul 7, 2026
Joins the Nasdaq-100
Fast-track inclusion just 15 trading days after listing, at a ~1.3% index weight. J.P. Morgan estimated ~$4.3B of forced passive buying from QQQ and other trackers.
Jul 8, 2026
All-time low $145.20
Shares fall ~35% from the peak as the Colossus 2 lawsuit threatens the $45B Anthropic contract. SPCX rebounds above $150 the next day; first earnings expected early August.
By the Numbers
FULL FINANCIALS →
From $10B to $18.7B in two years.
Consolidated Revenue
$18.67B
FY2025 · +33.2% YoY · +79.8% over 2 yrs
Net loss FY2025: $4.9B — driven by $3B Starship R&D + xAI integration costs.
Revenue by segment (FY2025)
Connectivity (Starlink)10.3M subscribers · 164 countries · 9,600+ satellites
61.1%
Launch services (Falcon)Government & commercial contracts
22.5%
StarshieldDefense & classified payloads
9.6%
xAI / OtherGrok, X platform, orbital AI
6.8%
What You're Buying
DEEP DIVE →
Four businesses, one ticker.
Falcon Launch
Reusable rocket dominance. Falcon 9 captured ~90% of global commercial launch share in 2025. Anchored by NASA, NRO, USSF, and commercial constellations.
~$4.2B FY25 launch revenue · Highest cadence in industry
Starshield
Government-only constellation built on Starlink architecture. Classified payloads, secure comms, surveillance. Multi-billion contracts with NRO and DoD.
$1.8B FY25 · Margin profile undisclosed
Starship + xAI
Starship targets first payload to orbit H2 2026. xAI (merged Feb 2026) provides Grok models and orbital AI data centers. The narrative engine of the IPO.
$3B Starship R&D in 2025 · xAI valued at $250B
For Retail Investors
FULL GUIDE →
How to buy SPCX stock.
Open a brokerage account
Any U.S. broker with Nasdaq access carries SPCX — Fidelity, Schwab, Robinhood, Interactive Brokers, E*TRADE. Most waive commissions on stock trades.
Fund your account
ACH transfer typically clears in 1–3 business days. Wire transfers settle same-day if you want cash ready sooner.
Decide: now or after earnings
The textbook post-IPO retrace already happened — SPCX fell ~35% from its June 16 peak. The first earnings report (expected early August 2026) delivers the first SEC-filed quarter as a public company.
Place the order
Use a limit order, not a market order. SPCX still swings several percent a day, and thin early-morning liquidity makes execution price critical.
Worth knowing: SpaceX reserved up to 30% of the offering for retail investors — far above the typical 5–10% IPO allocation. Since July 7, SPCX is also inside the Nasdaq-100, so broad index funds like QQQ now hold it at a ~1.3% weight — many investors own SPCX without buying a single share directly. See the full how-to-buy guide.
The First Month
ALL NEWS →
What actually happened since the debut.
Correction · July 8
From $225.64 to $145.20 in three weeks
The euphoria unwound fast. SPCX fell ~35% from its June 16 all-time high to a July 8 all-time low of $145.20, briefly trading below its $150 debut open — though still above the $135 IPO price. Shares rebounded to about $153 on July 9.
Index · July 7
SPCX joins the Nasdaq-100 — 15 trading days after listing
Nasdaq's fast-entry rules put SPCX into the index at a ~1.3% weight without removing an existing member. An estimated $4.3B of passive buying from QQQ and other trackers wasn't enough to offset the selling pressure that week.
Legal · Colossus 2
Data-center lawsuit clouds the $45B Anthropic deal
A Clean Air Act suit over the gas turbines powering the Colossus 2 data center led to a shutdown that jeopardizes SpaceX's $45 billion compute contract with Anthropic. The S-1 disclosed a $399M litigation accrual; the July ruling hit the stock hard.
Filing · S-1
Net loss of $4.9B on $18.7B revenue
Big spending, bigger ambitions: $3B in Starship R&D in 2025 alone, plus $930M in Q1 2026. The losses are operational by design — payload delivery is meant to begin H2 2026.
Governance · Class B
Musk keeps absolute voting control
The dual-class structure gives Class B shares 10× the voting power. Even at $75B raised, Musk retains majority voting power. Five board members ride along.
Underwriters · 23 Banks
Goldman lead-left, Morgan Stanley stabilization
The bookrunner stack: Goldman Sachs (lead), Morgan Stanley (stabilization agent), Bank of America, Citigroup, JPMorgan — plus 18 more, the largest syndicate ever assembled.
Starlink · Connectivity
10.3M subscribers, 164 countries, 9,600 sats
Starlink alone produced $11.4B in revenue and $4.4B in segment operating income. Growth holding at ~50% YoY despite the law of large numbers.
xAI Merger · Feb 2026
The AI line item nobody asked for
SpaceX absorbed xAI in February 2026 in an all-stock deal valuing the combined entity at $1.25T. Grok now runs Starlink network optimization; orbital AI data centers are the next bet.
Valuation · ~$2.0T
~107× revenue, no profit — yet
Even after the 35% correction, SPCX trades near 107× trailing revenue at a ~$2.0T market cap — still among the largest U.S. companies and with no positive-revenue mega-cap comparable. Morningstar pegs fair value far lower, near $780B.
Common Questions
FULL FAQ →
What investors keep asking.
Is SpaceX (SPCX) publicly traded?
Yes. SPCX began trading June 12, 2026 on the Nasdaq after pricing its IPO at $135.00 on June 11, closing the first day at $161.11 — up 19.3%. The stock ran to an all-time high of $225.64 on June 16 — briefly a ~$3 trillion market cap — then corrected roughly 35%, hitting an all-time low of $145.20 on July 8 before rebounding to about $153. SPCX has been a member of the Nasdaq-100 since July 7, 2026.
What is the SpaceX valuation now?
SpaceX priced its IPO at $135.00 per share on 555.6 million Class A shares, a $75 billion raise valuing the company at roughly $1.77 trillion — the largest IPO in recorded history, surpassing Saudi Aramco's 2019 $29.4B listing. The stock briefly carried a ~$3 trillion market cap at the June 16 peak of $225.64, but after the ~35% correction the valuation sits near $2.0 trillion at the July 9 close of $153.15. Note that Morningstar values SpaceX far lower, near $780 billion.
How can I buy SPCX stock?
Any U.S. broker with Nasdaq access can fill an order — use a limit order, not a market order, given the elevated post-IPO volatility. Since the July 7 Nasdaq-100 inclusion, index funds like QQQ also carry SPCX at a ~1.3% weight, and the Cambria ERShares Private Investments ETF (XOVR) remains a concentrated indirect route. See our step-by-step guide.
Is SPCX a good investment?
Even after the 35% correction, SPCX trades near 107× trailing revenue at a ~$2.0T market cap, and the company posted a $4.9B net loss in 2025. The bull case rests on Starlink unit economics, Starship reusability, and xAI optionality. The bear case is the multiple — Morningstar's fair value is near $780B — plus concentration risk in Musk and new legal risk around the Colossus 2 data center and the $45B Anthropic contract. Read our valuation analysis for both sides. This site is not investment advice — see disclaimer.
Does Elon Musk lose control after the IPO?
No. SpaceX uses a dual-class structure: Class A (public) gets 1 vote per share; Class B (insider) gets 10 votes per share. Musk and aligned insiders retain majority voting power regardless of the float size. This mirrors the structure used by Meta, Alphabet, and Snap.
What are the biggest risks?
Per the S-1 risk factors and events since listing: (1) Starship technical execution risk — payload delivery is targeted for H2 2026; (2) regulatory and legal risk — the Colossus 2 Clean Air Act lawsuit shut down the facility and threatens the $45B Anthropic compute contract; (3) customer concentration in U.S. government contracts; (4) Musk key-person risk; (5) xAI integration costs and unclear revenue contribution; (6) valuation risk at ~107× trailing revenue even after the July correction.
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