Today, 12 June 2026, marks SpaceX's first day of trading on Nasdaq. Many view this as a historic IPO for the U.S. market. Reports indicate retail investors have placed orders totaling over $100 billion in the final moments before trading begins.
According to Bloomberg, retail investor orders for SPCX shares have surpassed $100 billion. Meanwhile, SpaceX data shows the company plans to allocate at least 20% of the total shares offered to retail investors, although the company declined to disclose details since the information is not yet public.
If this IPO raises the planned $75 billion—potentially the largest IPO ever—the 20% allocation to retail investors means the majority of demand from this group will go unmet.
Retail investor demand has risen from $70 billion to $100 billion, including orders from both U.S. and international investors, and continues to grow throughout the roadshow and subscription period.
On the institutional side, major investors have committed significant funds and placed large orders, including several Sovereign Wealth Funds that have allocated over $1 billion each.
Previously, the Saudi Arabian Public Investment Fund (PIF) and Kuwait Investment Authority (KIA) submitted large orders, while the Qatar Investment Authority (QIA) is also expected to invest substantial sums.
Bloomberg also reports that SpaceX has received orders from approximately 1,000 institutional investors.
Key IPO details, such as the share price of $135 per share and the total of 555.6 million shares offered, are expected to remain unchanged from the original plan.
Additionally, SpaceX intends to allocate less than 10% of the offered shares to international investors.
However, discussions about IPO details are ongoing, and aspects such as the retail investor allocation could still change in the final stages.
The lead underwriters closed institutional investor orders on Wednesday, ahead of the official pricing on Thursday and the listing scheduled for Friday.
The prospect that many of Elon Musk’s fans may receive only a small allocation or none at all in this IPO subscription could further fuel secondary market buying once trading begins.
Back in 2020, Elon Musk posted on X (then Twitter), “I’m a big fan of retail investors,” referring to the possibility of taking SpaceX’s Starlink business public. He added, “I will make sure retail investors come first. You can hold me to that.”
If all proceeds go as SpaceX expects, the company’s total valuation would be $1.77 trillion, based on the total shares outlined in regulatory filings.
Beyond the stock market excitement, the Prediction Market has been buzzing about SpaceX. Recently, investors on Polymarket expressed strong confidence that the stock will surge immediately after listing.
Some investors assign an 84% probability that SpaceX will close its first trading day with a market cap exceeding $1.8 trillion, and about 69% believe it could surpass $2 trillion on day one.
Starting from an initial valuation near $1.77 trillion, reaching $2 trillion would represent roughly a 13% price increase on the first trading day.
Moreover, data from Pre-IPO Perpetual Futures on the Hyperliquid platform reflects an even more bullish outlook, indicating SpaceX shares could rise over 20% on the debut trading day.
If SpaceX closes above $2 trillion, it will join an exclusive group of only five U.S. companies with market caps over $2 trillion: Nvidia, Apple, Alphabet, Microsoft, and Amazon.
Even if SpaceX enters the market with the planned $1.77 trillion valuation, it would still be larger than Elon Musk’s electric car business, Tesla.
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