SpaceX shares rise 6% in pre-market after 19% gain on listing day

SpaceX shares gained another 6% in pre-market trading on Monday after the Elon Musk-led company delivered one of the strongest debuts in Wall Street history last week, as investors continued to pile into the newly listed space, satellite and artificial intelligence company.

The stock’s early gains come after a blockbuster first day of trading on Friday, when shares surged 19% from the IPO price, pushing SpaceX’s market cap above $2 trillion and making it the sixth-largest listed company in the United States.

Investor enthusiasm received a fresh boost over the weekend after Musk said SpaceX could generate more than $1 trillion in annual revenue by 2030.

“And I would be surprised if revenue is not greater than $1T in 2031,” Musk wrote on social media platform X on Sunday in response to a post by financial commentator Jon Erlichman.

The comment came just two days after SpaceX completed a record-breaking $75 billion initial public offering that valued the company at about $1.75 trillion at the issue price.

Friday’s rally took the stock to $160.95 per share, lifting SpaceX’s valuation to roughly $2.1 trillion. The company overtook Broadcom in market value and now trails only a handful of technology giants, with Amazon next at around $2.6 trillion.

The IPO marked several milestones for both Musk and Wall Street. The $75 billion fundraising was more than double the size of Saudi Aramco’s record 2019 listing and represented the largest IPO ever completed. The rally also cemented Musk’s position as the world’s first trillionaire based on the value of his holdings across SpaceX, Tesla and other ventures.More than 510 million shares worth approximately $84 billion changed hands on the first day of trading, highlighting the intense demand from both institutional and retail investors.

The strong debut came despite concerns over valuation and profitability. SpaceX generated revenue of $18.67 billion in 2025, up from $14.02 billion a year earlier, but reported a net loss of $4.94 billion compared with a profit of $791 million in the previous year.

Even at its IPO valuation, the company was worth more than many established technology giants despite generating only a fraction of their revenue.

Also read: Will SpaceX’s $75 billion IPO set the ball rolling for Reliance Jio and NSE listings in India?

Investors, however, are betting on SpaceX’s dominant position in commercial space launches, satellite broadband business Starlink and its growing artificial intelligence ambitions through xAI.

According to company filings, SpaceX estimates its total addressable market at $28.5 trillion, which it describes as the largest market opportunity in history. The company claims responsibility for more than four-fifths of all mass launched into orbit globally over the past three years.

The successful listing also eased concerns about the ability of exchanges to handle such a large offering. Trading began smoothly on Friday, avoiding the technical glitches that marred Facebook’s 2012 market debut.

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