SpaceX stock rises over 10% in second day of trading as market cap holds above $2.3 trillion

SpaceX didn’t just go public. It rewrote the record book, then kept going.

Trading under the ticker SPCX on Nasdaq, shares of Elon Musk’s aerospace company climbed another 10% on their second day of trading, June 15, pushing the stock into the $175 to $178 range. That puts the company’s market capitalization firmly above $2.3 trillion, a threshold it first breached intraday during its debut session on June 12.

SpaceX is now the sixth-largest publicly traded company in the US by market cap.

The IPO that broke every record

SpaceX priced its IPO at $135 per share, raising $75 billion in the process. That figure alone made it the largest initial public offering in history, eclipsing Saudi Aramco’s long-standing record.

On its first trading day, SPCX closed at $160.95, a 19.22% jump from the offer price. During intraday trading, the stock surged even higher, touching $176.52 before settling back.

Institutional appetite was immediate and substantial. ARK Invest, the fund led by Cathie Wood, scooped up nearly 3.3 million SPCX shares on the opening day alone, a position valued at over $500 million.

The IPO also carried a personal milestone. Elon Musk became the first person to cross the trillionaire threshold, with his SpaceX stake combined with holdings in Tesla and other ventures pushing his net worth past that mark.

What happened to tokenized SPCX shares

In the lead-up to SpaceX’s IPO, several crypto-native platforms moved to offer tokenized versions of SPCX shares. It didn’t work out. Exchanges that had listed or planned to list tokenized SPCX shares ended up scrapping or refunding those offerings as the stock’s price moved too fast and too far for their pricing mechanisms to keep pace.

What this means for investors

At IPO pricing, SpaceX was already valued near $1.8 trillion. Two days later, it has added roughly half a trillion dollars in market cap.

A stock that rises nearly 32% from its offer price in two trading sessions is pricing in a lot of future growth. For crypto investors specifically, the SPCX tokenization debacle illustrates that real-world asset tokenization platforms will need to prove they can handle not just blue-chip stability but IPO-day chaos before institutional capital takes them seriously.

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