SpaceX tops $2.4T after IPO surge

• SpaceX climbed to an intraday valuation of about US$2.43 trillion after rising more than 16% on its second trading day.
• The stock traded near three times Morningstar's US$63 fair value estimate despite concerns about valuation and profitability.
• Institutional investors, including ARK Invest, continued buying shares as attention also focused on SpaceX's Bitcoin holdings.

SpaceX surged more than 16% on its second day of trading, lifting the company's market value to approximately US$2.43 trillion and placing it among the world's largest publicly traded companies.

The rally extended gains from SpaceX's record IPO, which raised about US$75 billion at US$135 per share, with the stock climbing to around US$187.50 despite Morningstar's US$63 fair value estimate and an average analyst target of US$161.25.

“Investors are assigning value based on the company’s future opportunities rather than its current earnings,” said investor Kevin O'Leary.

SpaceX reported US$18.7 billion in revenue last year and posted a loss of US$8.7 billion between the start of 2025 and March 31, 2026, while trading volume exceeded 196 million shares during Monday's session.

The company's market performance suggests investors remain focused on future growth opportunities despite profitability concerns, and following the latest trading session the SpaceX share price was up 16% at US$187.50.

Institutional demand has remained strong, with ARK Invest purchasing 3,291,184 SpaceX shares valued at approximately US$444 million across its exchange-traded funds shortly after the company's public debut.

SpaceX's 18,712 Bitcoin (CRYPTO:BTC) holdings have also attracted attention from digital asset investors, while the company's valuation now exceeds those of Meta, Samsung and Tesla, trailing only Nvidia among the world's largest technology companies.

At the time of reporting, Bitcoin price was $65,997.65.