SpaceX shares surge in premarket trading as crypto markets ride the IPO wave

SpaceX stock is climbing again in premarket trading, extending a rally that began with the company’s blockbuster Nasdaq debut last week. The shares, which closed around $160-$161 on their first day of trading after pricing at $135, rose roughly 20% on June 15, the first full session after the IPO. Premarket activity showed another 6%-plus gain as investors kept piling in.

The biggest IPO ever, by a wide margin

SpaceX raised $75 billion by selling 555 million shares at $135 each on June 12, making it the largest initial public offering in history. For context, Saudi Aramco’s 2019 IPO raised about $25.6 billion. SpaceX nearly tripled that.

The stock opened at $150 on its debut day and closed near $161, a gain of roughly 19-20% from the IPO price. That pushed SpaceX’s market capitalization past $2 trillion. It also made Elon Musk the world’s first trillionaire on paper.

The company reported $18.7 billion in revenue for 2025, though it has not yet turned a profit. Retail investors accounted for about 20% of IPO allocations, a notable figure for a deal of this size.

Crypto markets light up on SpaceX mania

On Hyperliquid, a decentralized perpetual futures exchange, SpaceX contracts recorded over 7 million trades and $1.2 billion in volume on the debut day alone. Tokenized equity representations of SpaceX shares have been trading on platforms like PreStocks (under the ticker SPACEX) and xStocks (under SPCXx).

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