SpaceX shares rose in premarket trading on Monday after the company’s historic Nasdaq debut last week, which set a new record as the largest initial public offering ever.
SpaceX stock rose roughly 6% in premarket trading, with prices fluctuating around the $170 range.
On Friday, shares of SpaceX surged 19%, closing at $161 after being priced at $135 per share during its debut. The rally pushed the company’s market value above $2 trillion.
Elon Musk’s aerospace company manages the Starlink satellite internet system and a fleet of reusable launch vehicles. In February, it combined operations with his AI startup xAI. SpaceX is said to have posted losses of close to $5 billion in 2025, and its blockbuster IPO has raised questions about whether its valuation is sustainable.
On Friday, CFRA initiated coverage of the stock with a “sell” rating and set a 12-month price target of $115, implying a potential decline of nearly 29% from the previous closing price. The firm attributed its outlook to SpaceX’s highly ambitious expansion plans, elevated valuation expectations, and heavy capital requirements.
SpaceX’s capital spending for the quarter ended in March rose to $10.1 billion, up from $4.1 billion in the same period a year earlier. Most of the expenditure was directed toward artificial intelligence initiatives.
In a note released on June 8, Morningstar analyst Nicolas Owens said the firm places SpaceX’s value at $63 per share and argued that the stock is currently overpriced.
Some analysts, however, have taken a more optimistic stance. New Street Research initiated coverage of SpaceX and assigned the stock a price target of $165.
