Friday was absolutely bonkers. While the Iran war, the World Cup, and the Knicks’ playoff hopes were all happening, everyone on Wall Street was basically glued to their screens watching Elon Musk’s SpaceX finally go public. And honestly? It was kind of a big deal.
The numbers tell the story: SpaceX opened at $150 a share—that’s 11% above the $135 target price. It then rocketed (pun intended) up to $176.52 before settling at $160.95 by close. That’s a 19% pop from the target, which is solid but not the absolute moon-shot some people were betting on. Still, a $75 billion fundraise is the biggest IPO in history, so yeah, SpaceX just made history.
The vibe was *chef’s kiss*. There were Musk fanboys camping out in Times Square, protesters outside JPMorgan (because of course), and banks literally redecorating their cafeterias with space themes. It was peak Wall Street theater.
But here’s where it gets interesting. We talked to some of the smartest money in the game, and their takes are all over the map.
**The Optimists:** Venture capitalists who backed SpaceX early are basically doing laps. They’re pointing to Starlink’s growing recurring revenue and the company’s genuine tech leadership. But even they admit the valuation is stretched relative to near-term profits. Translation: it’s a long-term bet, not a quick flip.
**The Skeptics:** One CIO straight-up said “the worst thing investors can do is buy it on the first day.” He’s got a point—if you’re buying at $175, you’re basically just funding the windfall for earlier investors. The FOMO is real, but so are the risks.
**The Reality Check:** One advisor noted that liquidity concerns from the IPO (where people sold other stocks to buy SpaceX) didn’t actually tank the market. The Nasdaq was up 0.88% and the S&P 500 was up 0.66% by mid-afternoon. But here’s the kicker: Anthropic and OpenAI are still coming to market, so the real liquidity squeeze might still be ahead.
**The Long Game:** If you’re thinking about holding this thing, buckle up. One investor who has SpaceX employees as clients says they’re in it for the vision—mobile phone service, satellite internet, space tourism, the whole nine yards. But he also warned: “Be ready for volatility, because now when Blue Origin has a rocket that explodes, it’s going to affect this stock.” Welcome to public markets, SpaceX.
**The Elephant in the Room:** Some analysts think this IPO is the start of a “blow-off top” in the AI trade. The AI story has sucked all the oxygen out of the room, and SpaceX is capitalizing on that hype. Eventually, valuations will normalize. Eventually.
Bottom line? SpaceX’s IPO was a success, but it’s not a “buy it and forget it” situation. If you’re in, you’re in for the long haul. And if you’re thinking about jumping in now, remember: you’re not getting a time machine, you’re getting a volatile ride on one of the most ambitious companies ever built.
