SpaceX IPO live updates: Elon Musk's set to make record debut as Dow, S&P 500, Nasdaq rise

SpaceX IPO live updates: Elon Musk’s set to make record debut as Dow, S&P 500, Nasdaq rise

June 12, 2026

LIVE Updated 15 mins ago

Amalya Dubrovsky , Karen Friar and Jake Conley

Updated 1 min read

SpaceX (SPCX) made its historic debut on Friday, opening at $150 per share. Investors’ expectations for the stock were sky-high going into the start of trading.

The company, which aims to put AI data centers in space, priced its shares at $135 each, raising about $75 billion and giving it an anticipated market capitalization of $1.77 trillion. On paper, CEO Elon Musk became the world’s first trillionaire.

Meanwhile, US stocks rose modestly as investors assessed reports that the US and Iran are closing in on an interim peace deal.

The Dow Jones Industrial Average (^DJI) rose 0.5%, while the S&P 500 (^GSPC) gained 0.3%. The tech-heavy Nasdaq Composite (^IXIC) added nearly 0.2% following a surge in Wall Street stocks on Thursday as President Trump called off threatened strikes on Iranian targets.

Markets weighed signs that the US and Iran are edging closer to sealing an agreement to reopen the Strait of Hormuz when G7 leaders meet next week. Oil prices extended losses, with Brent crude futures (BZ=F) tumbling as much as 5% in early Friday trading to their lowest since March before recovering somewhat.

Also on Friday, the University of Michigan reported that US consumer sentiment rebounded from an all-time low reading of 44.8 in May to 48.9 at the start of June. One-year inflation expectations of 4.6% also came in below estimates.

LIVE 21 updates

SpaceX’s (SPCX) stock extended gains more than an hour after the opening trade.

The stock jumped 27% to $172 after opening at $150.

SpaceX priced its shares at $135 each, raising $75 billion in the biggest IPO ever.
Tesla stock (TSLA) was subdued on Friday afternoon after SpaceX (SPCX), another Elon Musk company, went public.

The stock was down 0.2% at last check, but it hit session lows, down about 2%, immediately after SpaceX began trading.

SpaceX, which opened at $150 per share, is now trading at $166, 23% above its IPO price of $135 per share.

As my colleague, Ines Ferré noted, Tesla stock, along with the rest of the “Magnificent Seven” group of megacap stocks, has been weak in June, with more than $2 trillion in market cap wiped out as investors rotated out of tech and into more cyclical and defensive sectors.

Strategists have also cautioned that SpaceX could split the “Elon Musk trade,” which, before today, was concentrated in Tesla stock.

Read more here.
SpaceX (SPCX) began trading Friday after the largest IPO ever, putting retail demand for the stock to its first public-market test. That test is arriving after signs retail traders may already have been making room for it.

Retail selling across single stocks just hit the heaviest level since November 2023, according to research from Vanda Research, with pressure concentrated in semiconductor names including Micron (MU) and Sandisk (SNDK).

At the same time, retail buying of space stocks has climbed further, reaching its highest level since December 2024, according to Vanda.

1-month rolling sum, $ millions · Vanda Analytics

That does not mean investors are dumping chips to buy SpaceX. Broadcom (AVGO) and Marvell (MRVL) had been drawing retail buying earlier in the week, according to Vanda, making this less a broad semiconductor exit than a test of where retail attention goes next.

But Vanda’s latest note sharpened the funding question.

Read more here.
Elon Musk is now the world’s first trillionaire after his stake in SpaceX amounted to nearly $870 billion at the company’s IPO price.

SpaceX founder and CEO Elon Musk speaks via video at the Nasdaq Marketsite in Times Square during the launch of the SpaceX initial public offering (IPO) on the Nasdaq on June 12, 2026, (Spencer Platt/Getty Images) · Spencer Platt via Getty Images

Pras Subramanian reports:

Musk holds approximately 42% of SpaceX’s equity through a dual-class share structure that grants him roughly 82% of voting control via Class B stock. With shares around $158 in midday trading, his equity stake is valued at $869.4 billion.

Musk holds approximately 717 million Tesla (TSLA) shares, not including vested stock options, according to the most recent regulatory filings — a position that, at the electric carmaker’s current price of roughly $388 per share, is worth approximately $278.2 billion.

Add the two together — $866.5 billion from SpaceX and roughly $286.8 billion from Tesla — and Musk’s stakes in those two companies alone total approximately $1.147 trillion, not including his stakes in Neuralink, the Boring Company, and other investments and assets he may have.

Read more here.
Yahoo Finance’s Pras Subramanian reports:

SpaceX’s (SPCX) stock opened at $150 Friday, a 11% jump on its first day of trade following a record-breaking IPO.

The rocket and satellite company priced its IPO Thursday night at $135 a share ahead of today’s debut on the Nasdaq (^IXIC), trading under the ticker SPCX.

“SpaceX going public is an important moment for the broader tech sector in our view as this AI Revolution and data takes this next step forward,” Wedbush analyst Dan Ives wrote in a note to investors Friday morning.

Read more here.
Yahoo Finance’s David Hollerith reports that hundreds of IPO bankers, wealth managers, customer service agents, and other staff have been put on notice. Halls of Manhattan bank lobbies are decked with rocket videos. JPMorgan Chase (JPM), the country’s biggest bank, is planning to throw a party on Friday afternoon.

It’s all fanfare over SpaceX’s (SPCX) public debut on Friday. Here are three things to know:

The IPO has a big retail allocation, but some investors may get less than they expect: The average investor may have far less opportunity to jump in than it seems. Requesting IPO shares doesn’t guarantee investors will get any.

On the other hand, SpaceX is breaking ground in how it’s reserving space for brokerages like Charles Schwab, E-Trade, Fidelity, Robinhood, and SoFi, which cater more to everyday investors.

Wall Street rations shares when demand surpasses supply: Demand for SpaceX shares is expected to exceed the supply available in the pre-IPO allocation, according to sources familiar with the deal. All else equal, that means many investors won’t get what they ask for, and that’s exactly the kind of tension bankers want.

Most investors won’t pay the IPO price: SpaceX’s IPO is set to price at $135. That’s only available to investors who get an allocation before the stock begins trading. Everyone else will wait until the stock trades on the public market, and unless things go poorly, the price will be higher.

Read more here.
Consumer sentiment has been stronger than expected so far in June, according to survey results released Friday.

The University of Michigan’s key sentiment reading was 48.9 in preliminary survey results for June, widely exceeding expectations of 46.0 and climbing far above May’s 44.8 reading, the lowest on record.

Readings on current conditions and expectations also exceeded estimates. Current conditions results were 48.4, against estimates of 46.1, while the expectations reading was 49.3, against estimates of 44.9.

On the inflation front, survey respondents expect one-year inflation of 4.6% and 5-10 year inflation of 3.4%. Economists had expected respondents to look for one-year inflation of 4.9% and 5-10 year inflation of 3.8%.

However, while the gains are strong, views on the economy are still “relatively dour,” survey of consumers director Joanne Hsu said in the University of Michigan’s survey release. Sentiment is still 13% below January 2026 and 19% below a year ago.

“Consumers remain focused on kitchen table issues,” Hsu said. “They feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run.”
Oil prices pared losses on Friday after President Trump said that terms of a potential US-Iran deal leaked in Iranian media “have nothing to do with the terms that were agreed to.”

“The terms that Iran leaked out to the Fake News have NOTHING to do with the terms that were agreed to, in writing. What they said, including their weak and pathetic statement on having a deal, bears no relation to the truth,” the president wrote on social media.

“Very dishonorable people to deal with. With them, there is no such thing as dealing in good faith. … They better get their act together, and FAST!,” Trump added.

Futures on international benchmark Brent crude (BZ=F) advanced to a loss of roughly 1.1% after losing as much as 5% overnight, while contracts on US WTI crude (CL=F) traded down by 1.3% near 10:15 a.m. ET.

Oil prices had plunged overnight on news that the US and Iran had largely agreed to the terms of a deal that would reopen the Strait of Hormuz, and that the deal could be signed as soon as this weekend, during the upcoming G7 summit in Geneva, Switzerland.

The text of the deal has not yet been made public. However, state-affiliated Iranian media have reported that terms include a withdrawal of US forces from the region, the release of $24 billion in frozen Iranian funds held abroad, the removal of US Treasury sanctions on sales of Iranian oil, and “reconstruction plans” for Iran worth around $300 billion.

President Trump has, in recent days, said an unfreezing of Iranian assets wouldn’t be acceptable to the US. Iranian media have also reported that the agreement doesn’t include a commitment from Iran to relinquish control of the Strait of Hormuz, which Trump has insisted must happen for any deal to take place.
Elon Musk said he finds SpaceX’s massive IPO today “hard to believe” given its humble beginnings.

“I gave SpaceX less than a 10% chance of succeeding at all,” Musk said on Friday morning. ”In fact, I told people this — ‘Look we’re probably going to fail, but we should give it a try because if there’s not a new company that enters space, we will never be a truly space-bearing civilization.’”
Elon Musk and SpaceX executives rang the opening bell ahead of the largest IPO in history.

Musk rang the bell remotely from Starbase, Texas, while SpaceX president Gwynne Shotwell and CFO Bret Johnsen were in New York to ring the bell at the Nasdaq Exchange.

Musk is poised to become the first trillionaire in history. Shotwell, Musk’s right-hand executive, was SpaceX’s seventh employee. She has helped execute on Musk’s vision for the company and now faces new challenges operating SpaceX with public market scrutiny.
Space-related stocks reversed course at the open on Friday, sinking as investors await SpaceX’s (SPCX) first trade.

Shares of Redwire Corporation (RDW) and Satellogic (SATL) declined more than 10%. AST SpaceMobile (ASTS) also declined, along with EchoStar (SATS), which dropped 9% and 12%, respectively. Rocket Lab (RKLB) also tanked 9%.

Procure Space ETF (UFO), which tracks companies across the space economy, fell below the flatline after jumping 8% in the prior session.

Virgin Galactic (SPCE) also tracked lower after jumping 23% a day earlier. Shares of the space travel company have been volatile amid short sellers piling into the stock.
The US stock market wobbled in the minutes after the opening bell on Friday as investors awaited SpaceX’s (SPCX) debut, with hopeful headlines out of the Middle East that the US and Iran could sign a deal as soon as next week.

The Dow Jones Industrial Average (^DJI) gained 0.5%, while the S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) hovered at the flat line.

All eyes on Friday are on SpaceX’s debut, set to be the biggest IPO in history. Shares are expected to begin trading within hours. An IPO price at $135 values the company at $1.77 trillion.

Crude oil fell Friday morning on news that the US and Iran could sign a deal as soon as last week, sparking hope the Strait of Hormuz could soon reopen. Brent (BZ=F) and US WTI crude (CL=F) traded down by 2.3% and 2.6%, respectively, after deeper losses overnight.
Tesla (TSLA) stock traded cautiously higher before the market open, picking up less than 1% in premarket trading on Friday as investors prepared for the IPO of SpaceX, set to be the largest initial offering in history.

Tesla and SpaceX are separate companies — despite both being run by Elon Musk — with different missions. SpaceX focuses on rocketry, telecom, and AI developments, while Musk has shifted Tesla’s focus from electric vehicles to robotics.

However, the two entities are closely linked. Tesla holds a $2 billion stake in SpaceX, meaning positive performance of SpaceX shares will boost the valuation of that equity.

Tesla has also integrated SpaceX’s Starlink connectivity into some deployments, including remote service and charging applications where terrestrial internet is limited, and engineering staff have rotated between the two companies over the years.
Adobe (ADBE) stock fell 8% after the software company announced that CFO Dan Durn would leave on June 15, 2026, to become the Marvell (MRVL) CFO.

The stock fell despite the company reporting strong revenue and earnings that beat Wall Street’s expectations. Adobe earned $5.96 a share in the first quarter on revenue of $6.62 billion, compared to estimates of $5.81 for EPS and $6.4 billion.

“Adobe delivered record revenue of $6.62 billion in Q2 reflecting strong AI-driven demand across our customer groups and we are raising our full-year fiscal 2026 revenue and non-GAAP EPS targets on the strength of that performance,” Adobe CEO Shantanu Narayen said. “We are inspired to bring the magic of our new AI products to consumers, business professionals, creators, and marketers to deliver on our mission to Empower Everyone to Create.”
Pre-IPO trading in derivatives linked to SpaceX (SPCX) indicates a gain of anything between 30% and 50% for Elon Musk’s rocket, satellite and AI company as retail investors flock to the much anticipated listing

Bloomberg reports:

Derivatives offered by online brokerage IG International pointed to a market value of $2.4 trillion Friday morning in Singapore, implying a gain of more than 35% from a price of $135 a share and valuation of $1.77 trillion in the initial public offering.

SpaceX-tied perpetual futures — contracts that don’t expire — on crypto venue Hyperliquid were trading around $180, implying a valuation of more than $2.3 trillion. Over $143 million of the instrument traded in the past 24 hours, and it currently has more than $208 million in open interest. In Germany, retail broker Lang & Schwarz quoted SpaceX with a Thursday closing price of $208, implying a 54% gain from the IPO price.

… Should the trading indications hold into the regular trading debut, the IPO would clear its first major hurdle as a public company, given the ambitious valuation, skeptical Wall Street voices on the business growth assumptions and the low initial free float.

Read more here.
SpaceX (SPCX) has not started trading yet, but Wall Street is already building the leveraged trade around it.

Yahoo Finance’s Jared Blikre reports:

At least a dozen ETFs are lined up to offer 2x long or -2x short daily exposure to SpaceX, turning one of the most anticipated IPOs in years into a short-term trading vehicle before the stock even has a public chart.

Some of those products could be live as soon as SpaceX starts trading on June 12, while others appear likely to follow later, with launch indications stretching as far as the week of June 22.

At least a dozen ETFs are lined up to offer 2x long or -2x short daily exposure to SpaceX. · Yahoo Finance

The lineup says less about SpaceX’s fundamentals than about demand for ways to trade the stock once it opens. Single-stock ETFs first hit the market in 2022 to give traders a way to make amplified one-day bets on individual stocks. SpaceX may become the next big test of how far that trade has come.

Read more here.
Yahoo Finance’s Pras Subramanian lays out what’s in play after SpaceX (SPCX) notched a historic IPO.

He writes:

The rocket and satellite company priced its IPO Thursday night at $135 a share ahead of today’s debut on the Nasdaq (^IXIC), trading under the ticker SPCX.

SpaceX offered 555.6 million shares to hit a record $75 billion raised. Underwriters are holding a “greenshoe” — or option to sell additional shares if demand outstrips the initial allotment — of approximately 83 million shares, worth around $11.2 billion. The terms of the offering set an initial stock market value for SpaceX at around $1.78 trillion.

The biggest open question is how much ends up with retail investors. SpaceX is reportedly targeting a retail allocation of roughly 30% — far above the 5% to 10% typical of most IPOs — but the final figure remains unsettled. Reports suggest SpaceX drew retail orders in excess of $100 billion.

Read more here.
The US and Iran are edging closer to signing an agreement to reopen the Strait of Hormuz as the Group of Seven world leaders are set to meet next week, according to senior officials.

Bloomberg reports:

A senior Iranian official indicated overnight that a deal is likely, said a G7 official, who asked not to be named discussing sensitive matters. Another G7 official said it will likely take the form of a memorandum of understanding, rather than a final deal.

This year’s summit takes place in Evian, in the French Alps, from June 15 to June 17. Geneva, in Switzerland, is nearby and being floated as a potential location for the signing as soon as Sunday, according to people familiar with the plans.

The official cautioned that Iran has yet to confirm it is ready for a signing ceremony and communications between its government and the US have been slow since the war began in February.

A second G7 official confirmed that there were signs that the US and Iran were close to signing but also warned that previous diplomatic progress has not materialized.

An Iranian foreign ministry spokesman said, “We have not yet reached a conclusion on this matter.” He signaled there had been progress toward ending a war that’s caused chaos across the Middle East and sent energy prices surging.

Read more here.
Yahoo Finance’s Pras Subramanian reports:

Oppenheimer initiated coverage of SpaceX (SPCX) with an Outperform rating and a $190 price target on Thursday, one day before the company begins trading on the Nasdaq under the ticker SPCX.

The price target implies around 40% upside from the $135 IPO price and values the firm at a hefty $2.5 trillion.

… Oppenheimer expects growth to accelerate in 2027 as Starship enters commercial service, but warned that the rocket “needs to enter commercial service before year-end” for its estimates to hold.

Read more here.
AP Finance reports:

Asian shares climbed sharply on Friday, tracking big Wall Street gains, and oil prices slipped after U.S. President Donald Trump claimed there was a breakthrough in talks to end the Iran war.

South Korea’s Kospi (^KS11) jumped 7.8% to 8,370.82, narrowing losses from earlier this month from sell-offs of shares related to artificial intelligence. The Kospi has roughly doubled over the past six months, with a record closing high of 8.801.49 on June 2.

Samsung Electronics, South Korea’s most valuable company, advanced 11.2%. Computer chipmaker SK Hynix (000660.KS) rose 7.2%.

Tokyo’s Nikkei’s 225 (^N225) gained 3.5% to 66,442.95, also led by gains for technology stocks. SoftBank Group, a multinational investment holding company with a strong AI focus, was up 2%. Chip equipment maker Tokyo Electron (TOELY) jumped 10.3%.

Hong Kong’s Hang Seng (^HSI) gained 1.8% to 24,689.32 and the Shanghai Composite (000888.SS) index rose 1.6% to 4,050.51.

In Australia, the S&P/ASX 200 (^AXJO) traded 1.9% higher to 8,798.10.

Taiwan’s Taiex (00685L.TW) gained 2.6%, while India’s Sensex advanced 1.2%.

The renewed investor optimism came after Trump said Thursday he had called off military strikes against Iran. He asserted that the U.S. had made “a great settlement of the war with Iran,” adding that an extension of the shaky ceasefire between the two sides could be finalized in “the next few days.” Few details were offered.

Read more here.