Wall Street's Fear Gauge Tumbles as Traders Bid up SpaceX Shares
SpaceX's $1.75 trillion IPO debut saw market value surge past $2.4 trillion, driven by industry leadership and revenue growth, but significant $4.9 billion net losses raise profitability concerns.
- On Friday, SpaceX President Gwynne Shotwell rang the opening bell at the Nasdaq Marketsite in New York City, launching the company's $1.75 trillion initial public offering and raising $85.7 billion in proceeds.
- Investors have driven the company's market cap to more than $2.4 trillion, surpassing Saudi Aramco's 2019 record, while Eric Hoffmann of Farient Advisors called the strategy "marketing 101" to drive hype and stock pricing.
- SpaceX reported $18.7 billion in 2025 revenue, up from $14.1 billion in 2024, and accounts for 83% of total mass sent into orbit, though analysts question if its dominant status will persist amid competition.
- The market digested the massive IPO without disruption, helping the Cboe Volatility Index decline as investors returned to previously sold stocks, with one trader collecting $5 million selling put spreads.
- Morningstar analysts estimate SpaceX's actual value at $780 billion, warning that "the market could become more competitive" if Blue Origin or Rocket Lab improve, while the company reported it cannot predict when profitability will return.
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STOCK MARKET: Wall Street’s fear gauge tumbles as traders bid up SpaceX shares
SpaceX advertisements are seen on a digital billboard on a building in Times Square to celebrate the launch of SpaceX’s initial public offering (IPO) in New York on June 12, 2026. Angela Weiss | Afp | Getty Images There’s nothing quite like traders gobbling up $2 trillion of new equity to squash the fear out of the market. Just 10 days ago, tech was nosediving, the stock market had its worst day since October 2025, and the Cboe Volatility Index …
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