The simple version

On the evening of June 11, 2026, SpaceX set its IPO price at $135 a share, and the stock starts trading June 12, 2026 on the Nasdaq stock exchange under the ticker symbol SPCX. An IPO, or initial public offering, is the first time a private company sells shares to the general public, letting anyone with a brokerage account buy in.

This is the biggest IPO ever by money raised, roughly $75 billion, at a company valuation near $1.75 trillion. That puts SpaceX in the same league as Tesla on day one.

What makes this one unusual for regular people: SpaceX set aside about 30% of the offering for retail investors, meaning everyday individuals rather than large institutions like pension funds and hedge funds. The typical IPO reserves only 5% to 10% for retail. That is why your brokerage app suddenly has a request-shares button for a company that was private for more than two decades. But requesting shares is not the same as receiving them, and the $135 price only belongs to people who actually get an allocation.

The numbers

• SpaceX priced its IPO at $135 per share on the evening of June 11, 2026, with trading set to begin June 12, 2026 on the Nasdaq under the ticker SPCX. (Yahoo Finance; NPR)
• The offering is about 555,555,555 Class A shares, raising roughly $75 billion, at a valuation reported between $1.75 trillion and $1.8 trillion, the largest IPO in market history. (Yahoo Finance; NPR)
• SpaceX targeted a retail allocation of around 30%, far above the 5% to 10% typical of most IPOs. (CNBC)
• Five brokers opened pre-IPO access to retail investors: Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE. (CNBC)
• The deal was heavily oversubscribed. Reported total demand ran well past the $75 billion raise, exceeding $250 billion in orders, with retail orders alone above $100 billion. (CNBC; NPR)
• Underwriters hold a 30-day option to buy up to about 83,333,333 additional shares at the IPO price, a standard mechanism called an over-allotment, or greenshoe. (Yahoo Finance)

What an IPO price actually buys you, and what it does not

The most important thing to understand is that there are two different prices here, and most retail investors will not get the first one.

The $135 figure is the offer price. It is a fixed, take-it-or-leave-it number. SpaceX skipped the usual process where a company markets a price range, collects orders, and sets a final price based on demand. Elon Musk set $135 and left it there. That price is only available to investors who receive an allocation, meaning shares handed to them at $135 before trading opens.

Because the deal is oversubscribed, far more orders than there are shares, most retail requests will be filled only partly or not at all. Requesting shares through your broker costs you nothing, but it does not guarantee you anything.

The second price is the open-market price on the morning of June 12. Once trading begins, the price is set by supply and demand in real time. With only a small slice of the company actually trading at first, a thin float, against enormous demand, the stock can open well above $135. If you buy then, you are not getting the IPO price. You are paying whatever the crowd is willing to pay.

A first-day jump, often called a pop, is driven by these supply-and-demand mechanics, not by any new information about whether the business is worth it. You are also buying Class A shares, which carry economic exposure but leave Musk in control of the company. You get a stake in the outcome, not a vote on the direction.

The Real Cost lens on chasing a first-day pop

Say you want 20 shares. At the $135 offer price, that is $2,700.

Now say you do not get an allocation, so you buy at the open instead, and the stock opens 30% above the offer price, a realistic pop for a hyped, small-float debut. You would pay about $175.50 a share, or $3,510 for the same 20 shares. That is $810 more for the identical position, purely for buying after the bell instead of at the offer price.

Here is the part that compounds. If that $810 premium had instead been invested at a 7% average annual return for 30 years, it would grow to roughly $6,200. The extra you pay for the privilege of chasing a popular stock on day one is not just $810. Measured against what that money could have become, it is closer to $6,200.

What this means

This is a genuinely historic moment, the largest IPO ever and a rare chance for ordinary investors to own a piece of a company that stayed private for over two decades. But historic and good investment at this price are two separate questions.

At roughly $1.75 trillion, you would be paying a trillion-dollar-plus valuation today for a set of businesses, Starlink, Starship, and a recently folded-in AI operation, whose combined profitability is still unproven. The first days of trading will be dominated by supply-and-demand technicals, a small initial float against huge demand, not by the fundamentals of the business. Those fundamentals will not get a real read until the company's first quarterly earnings report, expected later this year.

If you are tempted, the calm move is to decide in advance what SpaceX is worth to you and what you would actually pay, then hold that line, rather than letting an opening-day price make the decision for you. Requesting an allocation at $135 costs nothing if you are not filled. Chasing the stock after a pop is where the real cost shows up.

What this is NOT

This is not a recommendation to buy, request, or avoid SPCX shares or any other security. This is not a prediction of where SPCX will trade on its first day or afterward. This is not a claim that you will or will not receive an allocation through any particular broker. This is not investment, tax, or legal advice, so talk to a licensed professional about your own situation. This is not a buy or sell signal on SpaceX, Tesla, or any related stock or fund.

Sources

• Yahoo Finance, SpaceX sets $135 IPO price ahead of Friday Nasdaq debut: https://finance.yahoo.com/markets/stocks/article/spacex-sets-135-ipo-price-ahead-of-friday-nasdaq-debut-101955774.html
• NPR, SpaceX blasts off with a record-breaking $75 billion IPO: https://www.npr.org/2026/06/11/nx-s1-5853199/spacex-ipo-price-elon-musk
• CNBC, SpaceX targets fixed $135 IPO price for roadshow: https://www.cnbc.com/2026/06/03/spacex-ipo-stock-price-roadshow-musk.html
• SEC investor education, IPO basics: https://www.sec.gov