Morningstar

Money Moves

Initiated SPCX coverage at $780B fair value, calling the $1.75T IPO price significantly overvalued

SpaceX began trading June 12 on Nasdaq under ticker SPCX, the largest IPO by money raised. The company sold 555.6 million shares at $135 each, raising $75 billion at a $1.77 trillion valuation. Retail orders alone exceeded $100 billion, so SpaceX cut individual buyers' allocation from roughly 30% of the offering to the low 20s.

Updated Jun 12