SpaceX Jumps in First Day Following Record $75B IPO | The Close 6/12/2026
Speakers
Jay Ritter
— Director, IPO Initiative; Emeritus Professor, University of Florida
Dan Hanson
— Senior Portfolio Manager & Global Head of Quality Equity, Neuberger Berman
John Bolton
— Former US National Security Advisor / Ambassador
Thomas Mueller
— General Partner, Dragonfly Capital
Franco Granda
— Senior Research Analyst, Pitchbook
Lise Buyer
— Founder, Class V Group
Mark Levine
— New York City Comptroller
Summary
Bloomberg's 'The Close' covers the historic $75 billion SpaceX IPO, which opened at $135 and closed up 19% at $161.11 with a $2.1 trillion market cap. Experts debate valuation, upside potential, governance, and the IPO's impact on the space industry. Markets broadly rose with small caps outperforming; other space stocks fell as investors rotated into SpaceX.
- SpaceX completed the largest IPO ever at $75 billion, shares surging 19% on day one.
- Jay Ritter warns limited long-term upside exists at a $2 trillion+ market cap.
- Dan Hanson views SpaceX as a quality holding combining three mega-cap businesses with strong cash flows.
- Index providers plan to fast-track SpaceX into major indices, raising governance and passive-ownership concerns.
- Other space stocks declined as some investors shifted attention to SpaceX.
- Broad equity markets gained, with the Russell 2000 outperforming and non-tech sectors leading.
- The IPO is seen as Elon-Musk-specific and not necessarily a template for the broader IPO market.
- Governance issues highlighted by NYC Comptroller Mark Levine may generate friction with institutional owners.
Ideas
At a market cap around $2 trillion, even if SpaceX becomes as valuable as the world's most valuable company (Nvidia), the upside would be only around 100%, which is not a lot. The valuation is so high that the upside potential is very limited.
Up Next
This Bloomberg Markets video, published June 12, 2026, features Jay Ritter discussing SPCX. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Jay Ritter · Tickers: SPCX