SpaceX Shares Surge Nearly 20% After Record-Breaking $85.7 Billion IPO Greenshoe

SpaceX shares surged nearly 20% on Monday, climbing 19.7% to $192.8 after the company’s record-breaking IPO, which pushed its market value above $2.5 trillion.

The IPO began trading on the Nasdaq at $135 per share, and by the close of Monday’s session the two-day surge had placed SpaceX among the six largest companies in the world.

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Underwriters exercised the overallotment option, formally known as a greenshoe, selling nearly 639 million shares in total and lifting the amount raised to $85.7 billion, well above the originally targeted $75 billion.

The greenshoe exercise followed a 19% jump on Friday, when SpaceX’s debut began, and the listing also crowned Elon Musk as the world’s first trillionaire, tied to his ownership stake in SpaceX and holdings in other ventures.

CNBC said SpaceX underwriters officially exercised their overallotment, bringing the total raised to $85.7 billion, after the company raised an initial $75 billion on Thursday.

CNBC reported that brokers including Goldman Sachs and Morgan Stanley had the option to buy an additional 83.3 million shares as part of the overallotment, commonly referred to as the "greenshoe."

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After pricing at $135 per share, the stock soared in Friday’s debut, climbing 19%, and closed at around $161, pushing the company’s valuation past $2 trillion.

Musk told employees gathered at SpaceX’s Starbase headquarters in Texas on Friday that he wanted to take the company public now to raise capital for "a significant growth phase," and CNBC said SpaceX is expected to use the funds to complete and begin commercially flying its Starship rockets.

MarketScreener España said shares rose more than 5.6% before the market opened on Monday, signaling a continuation of gains after SpaceX’s valuation was propelled above $2 trillion on its debut.

It reported that CEO Elon Musk said on Sunday the company could reach about $1 trillion in revenue by 2030, and that SpaceX posted revenue of $18.7 billion in 2025.

MarketScreener España also said retail investors received roughly 20% of the IPO allocation and bought SpaceX shares worth $117.6 million during Friday’s session alone.

TechCrunch added that SpaceX’s IPO underwriters purchased the maximum amount of shares to bring the total amount raised to $85.7 billion, and it said SpaceX plans to use proceeds to extinguish around $20 billion in debt tied to X and xAI, while also expanding AI compute infrastructure and improving Starlink.