Curated, verified coverage of SpaceX as a public company, newest first — from the June 11, 2026 pricing at the fixed $135.00 and the June 12 Nasdaq debut, through the all-time high of $225.64, the Nasdaq-100 inclusion on July 7, the mid-July break below the IPO price and the $104.83 all-time low on Aug 3, the Q2 and Q3 reports — Q3 was SpaceX's first profitable quarter as a public company — the staggered lock-up releases, and the Nov 3 close of $141.31. Every headline below traces to an SEC filing or to reporting from major outlets. We summarize; we don't speculate; and we link to the original source article wherever one is publicly available. Filing documents on SEC EDGAR are listed at the bottom of the page.
The Nov 3 close leaves SPCX +4.7% vs. the $135.00 IPO price, −37% vs. the $225.64 all-time high and +35% vs. the $104.83 all-time low. At 13.58B shares outstanding (Sept 30), that is a market cap of about $1.9 trillion. The 52-week range is $104.83–$225.64.
After a $147.49 close on Oct 23, the post-Q3 slide took SPCX to $134.72 on Oct 30 — a close just below the $135.00 offer price, ten days after SpaceX reported its first profitable quarter.
The drop came in the same window in which up to ~1.3B more shares became eligible for sale following the Q3 report, per IFR's reading of the prospectus. The timing coincided; eligibility for sale is not the same as selling. IFR estimates more than $500B of stock becomes eligible between August and year-end. See the SPCX lock-up schedule.
Read at IFR →The first session after the Q3 report, which topped the ~$12.72B revenue consensus (CNBC) and showed SpaceX's first profitable quarter as a public company. Shares fell 9.14% the next day.
Revenue of $14.58B (Q3 2025: $5.58B) topped the ~$12.72B consensus (CNBC). Income from operations was $2.79B; net income of $4.40B (Q3 2025: a $(1.05)B loss) was helped by $1.03B of other income and a $390M tax benefit. GAAP diluted EPS was $0.35; CNBC cited adjusted EPS of $0.45 vs. $0.13 expected (LSEG) — the release reports GAAP only. Adjusted EBITDA rose 306% to $8.81B. Capex was $19.59B; cash and marketable securities $89.9B.
Read the Q3 8-K →The renamed AI segment booked $7.56B of revenue (~52%) and $431M of operating income, after $1.22B of acquisition-related stock compensation, mostly for Cursor. Connectivity: $5.25B and $2.37B, with 13.6M Starlink consumer subscribers (+1.6M in the quarter) at $69 ARPU. Space: $1.77B and a $(7)M operating loss across 35 launches.
Read the Q3 8-K →On the Q3 call, Musk said the two companies had formed special committees to consider a merger and "have not reached agreement on the terms of any transaction."
Read at CNBC →On the call, SpaceX also said it targets a roughly $100B annualized revenue run-rate by December 2026 and 2.5–3 GW of compute by the end of Q4, up from 1.7 GW of nameplate capacity at Q3. Backlog stood at $63B, $42B of it expected within 12 months. These are company targets, not results.
Read CNBC's live blog →A federal judge denied the Justice Department's bid to dismiss an NAACP Clean Air Act citizen suit over gas turbines at the Memphis-area Colossus data centers, CNBC reported. A denied motion to dismiss lets the case proceed; it is not a ruling on the merits.
Read at CNBC →A day after its first close above $170 since the summer ($171.09 on Oct 5), SPCX touched $176.42 intraday and closed at $171.92 — its highest close since the summer. Two weeks later it reported Q3.
SpaceX's Q3 release says Flight 14 was its first orbital Starship flight, delivering 26 Starlink V3 satellites. Flight 15 is planned next, with an attempt to catch both the booster and the ship.
Read the Q3 8-K →Announced alongside Q2 results on Aug 4, the deal closed Aug 14 at an implied $60B equity value. In Q3, Super Intelligence results included $1.22B of acquisition-related stock compensation, mostly for Cursor.
Read the Q3 8-K →Two days after Q2 results, ~911.5M shares — just under 7% of shares outstanding — became eligible for sale. A price-based early release of another 455.8M shares did not trigger, because SPCX had not traded at least 30% above $135 on 5 of the prior 10 sessions. The stock rose ~6% that day and nearly 16% the next (CNBC).
Read at IFR →Net loss narrowed to $(541)M from $(1.01)B; GAAP EPS of $(0.09) compared with ~$(0.26) consensus, and adjusted EBITDA rose 191% to $3.54B. Starlink reached 12.0M subscribers at $66 ARPU. Shares fell as much as ~8% after hours on the capex number — $18.37B, $15.83B of it for AI. SpaceX also announced the $60B Cursor deal and issued $25B of bonds in five tranches; cash and securities stood near $100B.
Read the Q2 8-K →SPCX set its all-time low of $104.83 intraday on Aug 3, days before the first lock-up release and a day before its first earnings report. As of the Nov 3 close the low still stands; the stock is about 35% above it.
The slide that began after the June 16 peak carried SPCX through the $145–150 zone and below the $135.00 offer price for the first time in mid-July, leaving IPO allocations under water heading into the first earnings report and lock-up release.
Shares recovered to close at $153.15 on July 9, a day after touching what was then an all-time low of $145.20. The bounce came as buyers defended the $145–150 zone while investors weighed reports of a lawsuit over Colossus 2's gas turbines, which outlets said could imperil part of a reported $45 billion compute contract with Anthropic. The zone did not hold: SPCX broke below its $135 IPO price in mid-July.
Read at IBTimes →SPCX fell to $145.20 in midday trade — roughly 35% below the June 16 peak and under the $150 opening print from the debut, though still above the $135 IPO price. The same session, reports emerged that rival Blue Origin is seeking new funding.
Read at Yahoo Finance →TradingKey reported that a lawsuit sought to shut down the mobile gas turbines powering the Colossus 2 data center, which it said could imperil part of a reported $45 billion compute agreement with Anthropic. No court ruling and no confirmed shutdown have been found. SpaceX's S-1 had disclosed a $399 million litigation accrual; shares fell more than 5% on the news. (In October, a federal judge denied the DOJ's bid to dismiss an NAACP Clean Air Act suit over Colossus turbines — see above.)
Read at TradingKey →Options traders positioned for further downside with unusually heavy long-dated put volume as SPCX broke below its debut price. The derivatives market's skepticism contrasts with the $4.3B of passive index buying triggered a day earlier.
Read at Barchart →The pullback reflects investors recalibrating after an extraordinary IPO rather than deteriorating fundamentals, but the debate is live: a $4.9B 2025 net loss, a $4.3B Q1 2026 loss on xAI and Starship spending, and a still-triple-digit revenue multiple.
Read at The Motley Fool →Nasdaq's fast-entry framework added SPCX at a ~1.3% index weight without removing an existing constituent, temporarily pushing the index above 100 names. J.P. Morgan estimated the inclusion would pull roughly $4.3 billion of passive money into the stock from QQQ and other trackers.
Read at CNBC →The preview flagged SpaceX's first quarterly report as a public company (Q2 2026) for early August — it arrived on Aug 4 (see above). Key items to watch were Starlink subscriber growth, Starship spending, AI segment losses, and the first employee selling window after the report.
Read at The Motley Fool →SPCX printed its all-time high of $225.64 on June 16 — with an overnight spike to $229.40 on Robinhood's 24-hour market — momentarily pushing SpaceX's market capitalization above $3 trillion, past both Amazon and Microsoft. The date would mark the top: a weeks-long correction followed.
At $213.59, SPCX sits 58.2% above its $135.00 IPO price just four sessions after listing. The run values SpaceX near $2.8 trillion and pushes the trailing price-to-sales multiple toward 150× — territory with no positive-revenue mega-cap comparable.
SPCX finished the June 15 session around $192, extending gains from the $161.11 debut close. Volume stayed elevated as retail demand — fed by the unusually large 30% retail allocation — met limited float.
Trading began June 12 on Nasdaq Global Select and Nasdaq Texas. The first trade printed through Nasdaq's IPO cross; SPCX opened at $150, ran to an intraday high of $176.52, and closed its first session at $161.11 — up 19.3% from the $135 offer price.
Read at Fast Company →Pricing confirmed after total demand reportedly topped $250B — roughly 4× oversubscribed, with retail orders alone above $100B. Underwriters hold a 30-day option on 83.3M additional shares (the 15% greenshoe).
Read at NPR →Far above the typical 5–10% IPO allocation — the structural choice that let brokers like Fidelity offer meaningful access to everyday investors. Final retail allocations were confirmed with the June 11 pricing.
Read at CNBC →The first S-1/A locks the offer at a fixed $135.00 per share — unusual for a mega-cap deal — across 555.6 million Class A shares. The roadshow markets at that price ahead of June 11 allocation and a June 12 Nasdaq debut.
Read at CNBC →At $135.00 per share the offering raises about $75 billion and values SpaceX near $1.77 trillion — more than twice the previous record and enough to rank it roughly the seventh-largest U.S. company, above Tesla.
Read at CNN →Post-IPO, Musk owns close to half of SpaceX economically but controls 82.4% of the vote through 10× Class B shares. The blockbuster debut could make the world's richest person the first trillionaire on paper.
Read at Bloomberg →The company's first public registration statement confirms a Nasdaq listing under SPCX. Reporters noted demand interest could push the deal higher during the roadshow — borne out on June 3 when SpaceX priced at $135.00 for a ~$1.77T valuation.
Cover-page of the S-1 names 23 underwriters in total — the most distributed IPO syndicate ever assembled. Joint bookrunners include Bank of America, Citigroup, JPMorgan, Wells Fargo, and UBS.
FY2025 audited consolidated revenue grew from $14.0B to $18.7B. Starlink alone contributed $11.4B and turned an operating profit of $4.4B. Net loss widened on Starship and xAI integration costs.
If priced at the high end of the target band, SPCX would more than double Aramco's 2019 $29.4B as the largest IPO ever recorded. Trading begins June 12 on Nasdaq Global Select and Nasdaq Texas.
S-1 disclosure puts the constellation at 9,600+ active satellites with monthly subscriber adds between 750,000 and 1.5 million through Q1 2026. Direct-to-Cell service is now generally available across multiple MNO partners.
The February 2026 all-stock merger valued the combined entity at $1.25 trillion. The S-1 reports AI segment revenue (xAI, including the X platform) of $3.20B for FY2025 — 17.1% of the total — on a $(6.36)B operating loss as compute spend ramps. SpaceX renamed the segment Super Intelligence in its Q3 2026 release.
S-1 segments report the cost of Starship development — the largest single discretionary line on the income statement. First commercial payload to orbit is targeted for H2 2026, per filing language. (Flight 14 reached orbit in late September 2026 — see above.)
Dual-class capital structure mirrors Meta, Alphabet, and Snap. The S-1 disclosure makes plain that even at the $75B raise scenario, Class B holders led by Elon Musk maintain majority voting power.
S-1's business section quantifies launch market share. Internal launches for Starlink V2 still account for the majority of Falcon flight cadence. The Space segment — which carries launch — reported FY2025 revenue of $4.09B (21.9% of the total) on a $(657)M operating loss.
At the $1.75T target on FY25 revenue of $18.7B, the multiple sits roughly 3× NVIDIA's trailing P/S. Morningstar analysts have flagged the gap between trailing fundamentals and forward optionality.
The Cambria ERShares Private Investments ETF (XOVR) is the closest publicly listed proxy. Reuters and the WSJ have both noted the fund's SpaceX allocation has run materially above 40% of fund assets in April 2026.
Institutional marketing schedule confirmed in the S-1. Pricing call targeted June 11 after the order book closes; first day of trading June 12. Major buyside accounts have already been pre-briefed by the syndicate.
SpaceX's SEC filings are the authoritative documents. The S-1 is the most comprehensive disclosure the company has ever produced, and the amendments through the June 11 pricing complete the offering record. Since listing, quarterly results have arrived as 8-K earnings releases — Q2 on Aug 4 and Q3 on Oct 20, 2026. The Q4/FY2026 report date had not been announced as of Nov 4; SpaceX typically announces dates a few weeks ahead on its investor-relations site and by press release.
| Form | Filed | Purpose | Link |
|---|---|---|---|
| Draft S-1 (DRSLTR / DRS) | Apr 1, 2026 | Confidential draft registration statement under JOBS Act | EDGAR |
| S-1 | May 20, 2026 | Initial public registration statement | EDGAR |
| S-1/A | Jun 3, 2026 | First amendment — set the fixed $135.00 offer price on 555.6M shares | EDGAR |
| S-1/A | Jun 11, 2026 | Final amendment at pricing confirmation | EDGAR |
| FWP (Free Writing Prospectus) | Roadshow window | Marketing materials filed during roadshow | — |
| 424B4 Prospectus | Jun 12, 2026 | Final prospectus filed at listing | EDGAR |
| 8-K (Q2 2026 earnings) | Aug 4, 2026 | First quarterly results as a public company — revenue $7.81B, net loss $(541)M | 8-K |
| 8-K (Q3 2026 earnings) | Oct 20, 2026 | Q3 results — revenue $14.58B, net income $4.40B, the first profitable quarter as a public company | 8-K |
| 10-Q, Form 4 and other periodic filings | Ongoing | Quarterly reports and insider transactions, including Elon Musk's Form 4 filings — see EDGAR for the current list | EDGAR |