SpaceX Shares Surge After Record-Setting IPO, Elon Musk Targets $1 Trillion Revenue

SpaceX’s record-setting IPO on Friday sent its shares into a second trading surge, with Investopedia saying the company sold more than half a billion shares and raised some $75 billion.

Investopedia reported that the shares opened at $150, rose above $176, and ended the day around $161, “a bit more than a 7% rise from the open price,” after which they climbed further Monday to finish up roughly 20% at above $192.

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CNBC said SpaceX shares climbed 20% on Monday, the first full day of trading following a record-breaking debut last week on the Nasdaq, and that roughly 244 million shares changed hands.

CNBC also put Friday’s trading volume at “topped 500 million shares,” and said the stock added about $31 on Monday to close at $192.50 after closing at around $161 on Friday.

In the same reporting, CNBC cited Elon Musk’s posts on X, including that the company “might be able to reach approximately” $1 trillion revenue in 2030 and that he would be “surprised if revenue is not greater than $1T in 2031.”

The IPO’s valuation quickly became a battleground, with CNBC noting that CFRA initiated coverage with a “sell” rating and a 12-month price target of $115, described as nearly 29% below Friday’s closing price.

CNBC also quoted CFRA’s rationale that its view was “due to the company's extremely ambitious growth strategy, elevated valuation expectations, and significant capital intensity.”

CNBC

Morningstar analyst Nicolas Owens released a note on June 8 valuing SpaceX at $63 per share and describing the stock as “overvalued,” while Paulina Roszkowska, lecturer in finance at Bayes Business School, told CNBC that SpaceX has made “a lot of promises,” but they must turn into cash flow.

Roszkowska said, “if you are asking for 70, 80 billion contribution, I think that you owe investors a little bit more than poetry,” and she added that the IPO prospectus lacks details on governance or execution risks.

Still, CNBC also highlighted bullish coverage, including NewStreet Research’s $165 price target and James Ratzer’s view that “you have to be looking out over a kind of 20 to 25-year time frame.”

Beyond the stock, Investopedia and TechCrunch framed the IPO as a catalyst for broader financial activity, with Investopedia pointing to Cathie Wood’s Ark family of funds buying roughly 3.3 million shares across four funds on Friday.

TechCrunch said the IPO priced 555.6 million shares at $135 each to raise $75 billion, and it described record demand translating into trading momentum on the first full day, including shares up more than 15% to $186.15 as of 2:30 p.m. ET.

TechCrunch also reported that banks brought in about $500 million in total fees, calling out Goldman Sachs and Morgan Stanley per the WSJ, while it noted that Robinhood saw “record-breaking traffic” after SpaceX’s debut.

In parallel, l'Opinion said venture-capital funding in the sector jumped to $7.1 billion in 2025 and that investors pumped $75 billion into SpaceX’s record-breaking IPO, tying the flow to Elon Musk’s public-market milestone.

l'Opinion further linked the stakes to speculative expectations, writing that “A failed IPO could rekindle fears of a speculative AI bubble,” and it said Musk’s fortune crossed a $1 trillion threshold on June 12 after SpaceX’s IPO.