A public company sporting a $1 trillion market was once a big deal.

Now it’s just a ho-hum number set against the backdrop of a sizzling stock market in 2026.

By the numbers: Elon Musk-led rocket company SpaceX (SPCX) officially priced its stock at $135 on June 11, offering 555.6 million shares. The pricing valued SpaceX at $1.78 trillion.

SpaceX made its historic public debut on the Nasdaq on June 12, when the stock officially opened for trading around midday at $150 per share.

Driven by heavy demand from both institutional and retail investors, the stock steadily climbed throughout the session before closing its first day at $160.95.

This successful 19.2% gain from its initial offering price instantly catapulted SpaceX to a massive $2.1 trillion market capitalization, according to Yahoo Finance AlphaSpace.

“Overall, 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 tech analyst Dan Ives said.

SpaceX is currently the sixth-largest US company, with a market cap of $2.1 trillion.

There are now a record 12 US publicly traded companies with a market cap above $1 trillion — a stunning figure. This year alone has seen two other companies enter the trillion-dollar market cap club: Walmart (WMT) on Feb. 3 and Micron (MU) on May 26.

From the vault: Apple (AAPL) was the first publicly traded company to hit a $1 trillion market cap. It hit this milestone on Aug. 2, 2018.

Bottom line: Talking about a company’s market cap is cool, but it’s ultimately just a number. What matters more is what the company is working on today to justify that valuation — or a higher one — in the future.

Brian Sozzi is Yahoo Finance’s Executive Editor and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email brian.sozzi@yahoofinance.com.

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