SpaceX IPO June 12 - biggest in history or the top of the bubble

[Luke_67]

SpaceX lists on Nasdaq under SPCX on June 12, 2026. The company is targeting a $1.75 trillion valuation and aims to raise up to $75 billion, more than double Saudi Aramco's 2019 record IPO. The S-1 shows $18.7 billion in 2025 revenue, a GAAP net loss of $4.9 billion, and a Q1 2026 net loss of $4.28 billion as the xAI merger absorbs costs. Starlink drives 61% of revenue at $11.4 billion with $4.4 billion operating income. Some analysts expect it to close its first day above a $2.2 trillion market cap. Others are calling it the ultimate meme stock.

SpaceX IPO could hit popular index funds - and your 401(k) - in as little as 5 trading days as indexes relax their rulesfinance.yahoo.com

[MickFoley]

Starlink alone generating $4.4 billion in operating income justifies a serious valuation. The question is whether you are paying for Starlink at a fair price or also paying full price for every ambitious Musk side project

[Wandering Matt]

The xAI merger adding $4.28 billion in quarterly losses is the part people are glossing over. That is not a rounding error, that is a massive ongoing cash drain attached to the IPO

[Ellie22]

Index fund inclusion happening within 5 trading days of listing means passive money has to buy regardless of valuation. That mechanical demand is a real tailwind on day one

[Slay40]

At $1.75 trillion it is already more valuable than Alphabet and Amazon at listing. The only way that number makes sense is if Starlink and Starship become foundational global infrastructure over the next decade

[Ben]

The retail frenzy around this is unlike anything since the dot-com peak. When your barber is asking about SPCX allocation you know something is off with the sentiment

[Jason99]

The fact that Rocket Lab went up 89% and Intuitive Machines went up 103% just because SpaceX filed tells you how much speculative capital is chasing this sector right now

[BiscuitTin46]

History suggests mega IPOs at peak market sentiment tend to mark cycle tops. Saudi Aramco in 2019. That did not end well for anyone who held through the following months