Pre-market indications suggested the shares could begin trading near $171, representing a premium of about 27% over the IPO price of $135. However, the stock is not expected to start trading immediately after the opening bell, as the exchange works through buy and sell orders while underwriters seek to establish a balanced market before trading commences.
The $75 billion offering has already set a new benchmark, raising more than twice the amount generated by Saudi Aramco’s record-breaking 2019 IPO. At its proposed valuation, SpaceX would become the first US company to debut on the stock market with a valuation exceeding $1 trillion and would rank among the country’s largest listed firms by market capitalisation.
The company’s valuation could move even higher if underwriters choose to exercise their option to sell additional shares, a decision that is typically made within a month of the offering. While immediate inclusion in the S&P 500 may not be possible, SpaceX is widely expected to gain rapid entry into the Nasdaq-100 Index, potentially making it a significant holding for index-tracking ETFs and passive investment funds and creating an additional source of demand for the stock.
