Countdown to SpaceX IPO – how you can invest, and is it worth it?
June 12, 2026
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Elon Musk’s rocket company SpaceX will join the public markets on Friday in one of the most highly anticipated initial public offerings (IPOs) in recent years.
Ahead of the stock market opening, UK retail investors buoyed by the prospect of owning a slice of the next trillion-dollar company purchased shares via investment accounts such as Isas and self-invested personal pensions (Sipps).
While the offer period closed on Wednesday night and the US market is yet to open, those still keen to invest in Mr Musk’s venture will be able to do so shortly.
If you missed the IPO or chose to wait for the dust to settle, here’s how you can still buy – and if you should.
How can I buy?
Purchasing US stocks as a UK-based retail investor is straightforward and accessible. Investment accounts such as a stocks and shares Isa, lifetime Isa, Sipp or general investment account provide access to shares in US companies.
The stock market ticker ‘SPCX’ – a shorthand for SpaceX – will allow investors to search for the stock on various platforms.
For investors who prefer to access Mr Musk’s company through a fund with historic exposure to SpaceX, shares in a swathe of UK investment trusts are available.
Three Baillie Gifford-managed investment trusts boast SpaceX as their largest holding. Scottish Mortgage investment trust represents the biggest of these trusts at £17.3bn, but investors will have an additional 0.33pc annual management charge levied on their investment and their SpaceX position will be held in a basket with other stocks.
Edinburgh Worldwide and Baillie Gifford US Growth also hold SpaceX as their top holding, while Schiehallion has significant exposure, too.
Aside from the Baillie Gifford trusts, SpaceX accounts for 2.5pc of the £4.4bn RIT Capital Partners investment trust.
What are the costs?
As a company listed on the US Nasdaq index, SpaceX shares are traded in US dollars, so investors will need to consider currency conversion fees.
Some investment platforms waived the foreign exchange (FX) and dealing fees for investors who participated in the pre-IPO “book making” process.
However, these FX charges have returned and will be incurred by investors who purchase shares on the secondary market.
Depending on the stockbroker, FX fees can range from as little as 0.03pc with Interactive Brokers to 1pc with Hargreaves Lansdown, but the size of the trade can alter the charge.
A reintroduction of dealing fees, which can charge investors up to £7.50 to purchase a share, will also apply across platforms that levy them.
The price of shares will fluctuate depending on market demand, but some brokers such as Trading 212 will offer fractional shares for customers who prefer to stake a smaller amount and not purchase a whole share.
Why won’t I see a price initially?
Despite the US stock market opening at 14:30 BST, SpaceX shares will not begin trading immediately.
This period – referred to as an opening auction period – is common following an IPO and allows the market to determine a fair opening price.
It can last anywhere from a few minutes to several hours as investment banks work to fulfil orders. After the auction period, investors will be able to view frequent fluctuations in the share price as usual.
Should I buy?
This ultimately depends on whether you think SpaceX is overpriced, or has the potential to grow. Investors bullish about the stock point to SpaceX’s dominance in its sector and the success of Mr Musk’s other ventures, such as electric vehicle giant Tesla.
“Tesla has, for years, defied the gravity of its own delivery record relative to its magnificent seven peers,” said Anton du Plooy, a technology analyst at Ninety One asset management.
“Given Elon Musk is the key figure in both, it may be that this dynamic will apply to SpaceX too,” he added.
Despite the zeal among retail investors to grab a chunk of the modern-day space race and see their investment skyrocket, some in the market have cautioned piling in at a potentially astronomical valuation.
David Coombs, a fund manager at Rathbones Asset Management, said while SpaceX is “undoubtedly one of the most innovative companies of our generation” it does not justify purchasing shares at “any price”.
The figures surrounding the IPO are “eye-watering”, Mr Coombs added. The ratio between the price of the stock and the sales generated by SpaceX sat at 113:1 before the IPO. By comparison, Tesla trades at around 16 times its 2025 sales.
Analysts at Morningstar have also warned its valuation should be around $780bn, less than half the predicted IPO valuation. The shares are likely to be “overvalued in almost any scenario” as a result, the analysts said.
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